France’s Ardian to target GCC with Kuwait presence

French investment company Ardian is reportedly looking to open an office in Kuwait to tap the growing opportunities across the GCC.

The branch is expected to open next year and will serve as a gateway to Europe for Kuwaiti investors, Bloomberg reported, quoting unidentified sources.

Last month Wafra, a $28 billion alternative investment manager owned by the state-backed Public Institution for Social Security, purchased a minority stake in Ardian.

Ardian manages nearly $196 billion in assets and will be the first major European private equity company to establish a presence in Kuwait, the report said. The company has almost 20 offices worldwide, including one in Abu Dhabi.

In September the Kuwaiti state news agency Kuna reported that BlackRock will open an office in Kuwait and has appointed Ali Al Qadhi to lead operations in the country. 

In October Goldman Sachs opened a site in Kuwait and hired Mohammad Almatrouk as managing director to lead its operations in Kuwait. In the same month Franklin Templeton also opened a branch in the Gulf nation to provide support to its Institutional business.

Founded in 1996, Ardian invests across private equity, real assets and private credit.

In November S&P Global upgraded Kuwait’s sovereign credit ratings, citing progress in fiscal reforms and lower funding pressure.

“We expect the Kuwaiti government to continue implementing a package of fiscal and economic reforms under Kuwait Vision 2035,” the S&P report said.

Further reading:

• Kuwait’s dollar bond stormed the market – here’s what comes next
• Kuwait stands out as GCC markets diverge on performance
• Kuwait economy in charts