Giant Kuwait fund picks ex-BAML pair for new London unit

Kuwait's $386 billion sovereign wealth fund has established a new infrastructure management business in the UK capital

The Kuwait Investment Authority, which was part of a consortium that bid for UK water company Severn Trent earlier this year, has hired two former Bank of America Merrill Lynch bankers to a new London-incorporated infrastructure unit.

Kuwait's sovereign wealth fund manages assets worth around $386 billion, according to the latest numbers from the Sovereign Wealth Fund Institute, and has had a presence in London since the 1950s based at Wren House on Carter Lane in the Square Mile.

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