Total revenues increased by 35.1% to KD25.0mn, while fee and commission income stood at KD11.5mn (9M 2024: KD12.1mn). The growth in total revenues was mainly driven by the performance of the Company’s investment portfolio, supported by one-off proceeds from a legal case ruled in the Company’s favor.
Assets under management reached USD16.4bn as of 30 September 2025, an increase of 3.0% since the beginning of the year, invested in various strategies and asset classes including equities, fixed income, real estate, private equity, amongst others. Managed portfolios continued to outperform their respective benchmarks, while the Company’s equity funds maintained their positions amongst the top performing funds in Kuwait and Saudi Arabia, based on the fund disclosures published on Boursa Kuwait and Tadawul websites.
As for Alternative Investments, which includes real estate, private equity and structured products, the team continued to expand its range of offerings to provide clients with added value. During Q1-2025, Kamco Invest finalized the acquisition of a 60% majority stake in European Green Logistics Space (EGLS), a company specializing in the development, investment, and management of logistics assets in Europe. This acquisition reflects Kamco Invest’s commitment to growing its recurring fee income while unlocking value-adding opportunities for regional clients in the sustainable logistics sector.
Kamco Invest also strengthened its presence in the technology investment space through an innovative approach implemented by its closed-end and nearly fully deployed JEDI Fund. The Fund is a unique institutional-grade platform investing in technology opportunities in the United States, particularly Silicon Valley, which has achieved outstanding performance with a Gross Multiple on Invested Capital (MOIC) of 1.3x. The private equity team also completed two client acquisitions in Foodics, the leading cloud-based technology and payment platform for restaurants in the region, and Unifonic, a leading platform that enhances communication and engagement between businesses and their customers.
The Company successfully exited its investment in Yargici, a leading Turkish fashion and accessories brand held by one of Kamco Invest’s private equity funds, through a sale to TIMS Group, a diversified Turkish business group with operations in content production, tourism, construction, and land development. The exit highlights Kamco Invest’s commitment to delivering long-term value to its clients while ensuring the continued growth and success of its portfolio companies.
The Investment Banking team continued to advise clients on several transactions across equity capital markets, debt capital markets, and M&A, with deals expected to close during the year. During the period, the team successfully advised on a sell side mandate and acted as Joint Lead Manager on eight bond and sukuk issuances totaling USD4.3bn for regional banks and institutions across Kuwait, Saudi Arabia, UAE, and Qatar.
First Securities Brokerage Company, Kamco Invest’s brokerage arm, continued to strengthen its competitive position and attracted new clients through its online trading platforms.
Kamco Invest - Saudi and Kamco Invest - DIFC continued to strengthen their presence in their respective markets by improving their services and contributing more to the company's core businesses, particularly in asset management. Kamco Invest – Saudi signed a strategic partnership with Flexam Invest to offer leasing opportunities to their clients. Furthermore, Kamco Invest – Saudi officially moved to its new premises in the King Abdullah Financial District (KAFD).
Kamco Invest was awarded the “Kuwait’s Best for Alternative Investments” at the Euromoney Private Banking Awards 2025, highlighting the Company’s rapid growth and sustained success in the alternatives space. In addition, Kamco Invest was named “Kuwait’s Best Investment Bank – DCM” at the Euromoney Awards for Excellence 2025, in recognition of the team’s outstanding performance in executing bond and sukuk transactions for local and regional clients.
Total assets increased by 4.8% during the period to reach KWD136.1mn, whereas shareholders’ equity rose by 10.1% to KWD68.5mn. The Company also enjoys a strong financial position and a “BBB” long-term credit rating and “A3” short-term rating with stable outlook by Capital Intelligence in their latest review in May 2025.
Commenting on the results, Sheikh Talal Ali Abdullah Al Jaber Al Sabah, Chairman, said, “Our performance during the first nine months of 2025 reflects our ability to deliver solid results despite market volatility, underscoring the strength of our strategy and the resilience of our diversified business model. We look forward to concluding the year with continued momentum, capitalizing on our accumulated expertise and capabilities, while maintaining our unwavering commitment to creating long-term value for our shareholders and clients alike.”
Faisal Mansour Sarkhou, Chief Executive Officer, commented, “We delivered strong performance throughout the first nine months characterized by solid growth in revenues and net profits, that were supported by exceptional returns from our managed investment portfolios. During this period, we continued to strengthen our presence across our core business lines and expand our investment solutions to cater to the evolving needs of our clients. The strategic developments, particularly the acquisition of a majority stake in EGLS, reflect our commitment to sustainable value creation and enhancing our competitive edge. We continue to execute our plans to develop our services, expand our operations and regional presence, and achieve balanced growth.”