Kamco Invest, a regional non-banking financial powerhouse with one of the largest assets under management in the Middle East, and PGIM, the global asset management business of Prudential Financial (PFI), have signed a MoU to pursue a strategic partnership that leverages their complementary capabilities and expertise across wealth and asset management.

Headquartered in New Jersey, PGIM is a leading global investment manager with $1.5 trillion in assets under management, offering a broad range of investment solutions across public and private markets. 

With a strong global footprint and a disciplined, long-term investment approach, PGIM serves a diverse base of institutional and wealth clients worldwide, including sovereign wealth funds, pension funds and insurance companies.

Through this partnership, Kamco Invest and PGIM will explore opportunities for joint product development and co-branded investment solutions across public and private markets. 

Potential areas of collaboration include public market strategies such as equities, fixed income and sukuk, as well as private market opportunities spanning private credit, real estate, infrastructure, secondaries and other alternative asset classes. 

Furthermore, the partnership aims to combine PGIM’s global investment management capabilities with Kamco Invest’s regional client access, market connectivity and distribution reach, said the statement from the Kuwaiti group. 

The parties may also evaluate opportunities to jointly pursue regional and global mandates from institutional, sovereign, pension and insurance clients, where their combined capabilities enhance the overall value proposition, it added.

In parallel, PGIM and Kamco Invest intend to explore knowledge sharing and capability development domains, including the exchange of market insights, research and best practices, as well as engagement through training initiatives, conferences and professional exchanges.

On the partnership, Faisal M. Sarkhou, Chief Executive Officer of Kamco Invest, said: "We are excited to partner with PGIM, a global leader in investment management. This collaboration reflects our ongoing commitment to enhancing and expanding our investment offerings through strategic partnerships that bring world-class expertise, diversified capabilities, and disciplined investment practices to our clients in Kuwait and across the wider GCC."

"We believe this partnership will enable us to strengthen our wealth management offerings and deliver more innovative and tailored solutions that address the evolving needs of our institutional and high-net-worth clients, while supporting the growth of the region’s capital markets," he stated.

Mohammed Abdulmalek, Head of the Middle East for PGIM, said: "Our partnership with Kamco Invest brings together PGIM’s global investment expertise and Kamco Invest’s regional reach to deliver differentiated solutions for clients across Kuwait and the wider GCC."

"By combining complementary strengths, we aim to co develop strategies - leveraging expertise across PGIM’s $1 trillion public and private credit platform, world-leading real estate business, and other equity and alternative asset classes - aligned to the long term objectives of regional institutional and wealth clients," he noted.

"This partnership further strengthens our commitment to delivering bespoke, outcomes focused solutions for our clients in Kuwait and the Middle East," he added.-TradeArabia News Service