KUWAIT’S SOVEREIGN WEALTH fund, the Kuwait Investment Authority (KIA), manages anywhere from $350 billion to $425 billion of assets, according to different estimates. As its head, Al Sa’ad presides over all its investments, including holdings in Daimler AG, BP, Bank Of America Merrill Lynch and Arab Insurance. The former MD of one of Kuwait’s largest investment companies Markaz, he will lead the fund this year as it continues its sale of local assets. KIA stakes in Kuwait Investment Co, Kuwait Finance House and telco Zain will be made available to the public this year and in the future, according to state news agency KUNA. The fund is also looking to expand its almost $18 billion investment in Germany.