BlackRock explores opening office in Kuwait, deepening Gulf ties
The world’s largest asset manager, with $11.48 trillion in assets, is in talks with regulators and may decide to open a Kuwait office as early as this month.
• BlackRock has strong ties to Kuwait, with CEO Larry Fink visiting the country annually. The Kuwait Investment Authority, which manages an estimated $1 trillion in assets, is one of BlackRock’s major shareholders.
BlackRock is exploring plans to establish an office in Kuwait, Bloomberg reported, highlighting the asset management firm’s latest move to strengthen its presencein the Gulf region, according to Al Qabas.
According to Bloomberg sources, the company is in discussions with regulators and could make a final decision as early as this month.
BlackRock has strong ties to Kuwait, with CEO Larry Fink visiting the country annually. The Kuwait Investment Authority, which manages an estimated $1 trillion in assets, is one of BlackRock’s major shareholders, according to the company’s latest data.
BlackRock continues to expand its presence in the Middle East, home to some of the world’s largest sovereign wealth funds.
Last year, the company received approval from Saudi Arabia to establish its regional headquarters in Riyadh and also secured a commercial license to operate in Abu Dhabi.
BlackRock is the world’s largest asset management firm, with assets under management reaching a record $11.48 trillion as of the third quarter of 2024.
