Kuwait Investment Authority (KIA) will set up a $3.6 billion portfolio to invest in the country’s real estate market, Pensions & Investments reports, citing KUNA. The sovereign wealth fund’s portfolio will be run by Kuwait Finance House, with the possibility of appointing two other managers. Initially, Kuwait Finance House will be responsible for managing $901.22 million of the portfolio’s total capital. The vehicle will not invest in private housing, but target commercial real estate.

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