Inside the Kuwait Investment Authority: ‘It’s chaos there now’

For decades, the Kuwait Investment Authority kept a low profile as it garnered a reputation as one of the oil-rich Gulf’s most powerful and respected sovereign wealth funds.

But last week, the KIA abruptly sacked Saleh al-Ateeqi, the head of its London investment arm, the Kuwait Investment Office, dragging the secretive fund into the spotlight.

Founded in 1953, the KIA is one of the Gulf state’s most influential institutions and guardian of Kuwait’s wealth for a post-oil future. With an estimated $700bn or more in assets, under half of…