Profits rise at Bahrain's Mumtalakat

Pay_increaseMumtalakat, the sovereign wealth fund of Bahrain, says its profits more than doubled last year as it expanded into new sectors such as healthcare. The fund, which is structured in a similar way to a private equity portfolio, made profits equivalent to $183 million in 2016, a significant rise compared with $76 million the previous year. “Over the course of the year, Mumtalakat took active steps to further develop its portfolio through commercially viable investments while diversifying into new sectors and territories,” said  Mahmood Hashim Alkooheji, chief executive. The fund made five investments last year, buying stakes in: KOS Group, a European healthcare company; Envirogen Group, a British supplier of water treatment; and Gulf Cryo, a Kuwaiti gas producer, among others. Last year, the fund said it had $10.6 billion under management. ©2017 funds global mena

Executive Interviews

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

We’ll launch our first equity fund next year

Dec 08, 2016

Not many banks plant olive trees, but the Bank of Palestine has a social mission. It also has ambitious expansion plans, says chairman Hashim Shawa. He talks to George Mitton.



Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.

ROUNDTABLE: Growing pains

Mar 08, 2017

Our panel in Qatar spoke about frustration with regulators, a shortage of listed companies and plans for a new financial city in Doha. Chaired by George Mitton.