BlackRock Inc., managing over $11 trillion in assets, is in discussions to set up an office in Kuwait, Bloomberg reported, quoting sources familiar with the matter. A decision is expected later this month.
CEO Larry Fink recently met with Kuwait’s Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah. Discussions focused on enhancing cooperation and supporting Kuwait’s Vision 2035 development goals.
The Kuwait Investment Authority, managing approximately $1 trillion in assets, is among BlackRock’s significant shareholders.
BlackRock has been expanding in the Middle East, receiving approval last year to establish a regional headquarters in Riyadh and obtaining a commercial license to operate in Abu Dhabi.
