Kuwait-based asset manager Kamco Invest and global investment manager PGIM have formed a strategic partnership to explore joint product development and co-branded investment solutions across public and private markets in Kuwait and the wider GCC.
The two companies, which have signed a memorandum of understanding to pursue the partnership, will identify potential areas of collaboration in public market strategies such as equities, fixed income and sukuk, as well as private market opportunities spanning private credit, real estate, infrastructure, secondaries and other alternative asset classes.
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PGIM and Kamco Invest said that “where their combined capabilities enhance the overall value proposition”, they will also consider opportunities to jointly pursue regional and global mandates from institutional, sovereign, pension and insurance clients.
The partnership will also promote the exchange of market insights, research and best practices between the two companies.
“Our partnership with Kamco Invest brings together PGIM’s global investment expertise and Kamco Invest’s regional reach to deliver differentiated solutions for clients across Kuwait and the wider GCC,” said Mohammed Abdulmalek, head of the Middle East for PGIM.
“By combining complementary strengths, we aim to co‑develop strategies – leveraging expertise across PGIM’s $1tn (£732.4bn) public and private credit platform, world-leading real estate business, and other equity and alternative asset classes – aligned to the long‑term objectives of regional institutional and wealth clients. This partnership further strengthens our commitment to delivering bespoke, outcomes‑focused solutions for our clients in Kuwait and the Middle East.”
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US-headquartered PGIM manages approximately $1.5tn of assets, with expertise in equities, public and private fixed income, real estate, infrastructure and other alternative asset classes, as well as multi-asset and outcome-oriented strategies.
Kamco Invest, an independent subsidiary of Burgan Bank, has assets under management in excess of $17.1bn and provides asset management solutions covering equities and fixed income, as well as alternative investments spanning real estate, private equity and structured products.
“We believe this partnership will enable us to strengthen our wealth management offerings and deliver more innovative and tailored solutions that address the evolving needs of our institutional and high-net-worth clients, while supporting the growth of the region’s capital markets,” Faisal M. Sarkhou, chief executive of Kamco Invest, added.
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