The Capital Markets Authority (CMA) has granted Kuwait Investment Company a special marketing license to market shares of the European Credit sub-fund of Goldman Sachs Alternatives SICAV, an overseas collective investment scheme based in Luxembourg.
The decision, published in the official gazette Kuwait Alyawm, authorizes Kuwait Investment Company to market the fund’s shares in Kuwait through private placement, with the offering limited to professional clients.
Under the license, the company may market up to 1.5 million shares of the European Credit sub-fund. The offering price will vary according to the fund’s net asset value (NAV), while a subscription fee of 2 percent of the subscription or share value will apply.
The shares will be available exclusively to professional clients and will fall under the RID or RIA categories specified in the decision. The marketing license is valid for one year from the date the license certificate is issued, subject to payment of the prescribed fees.
