The Kuwait Capital Markets Authority has approved KFH Capital Investment Company’s establishment of the Riaya Private Equity Fund for private subscription, with capital ranging from KWD 8 million to KWD 35 million. The fund must meet capital and regulatory requirements before it can begin operating. The offering comprises 35 million units with a nominal value of KWD 1 each. The minimum subscription is 1,000 units, with an exemption for holdings acquired through inheritance. The fund manager must invest at least KWD 100,000, or its equivalent in other currencies, at establishment. A temporary license runs for three months from the start of subscriptions and does not authorize fund activities. It lapses if the requirements remain unmet, unless extended for an equivalent period. Once the minimum capital is raised, the fund receives a license valid for three years from registration with the authority. Separately, the fund’s term is five years from publication of the establishment approval in the official gazette. The manager may renew that term for equivalent periods with regulatory approval unless holders of more than 50% of issued capital submit written notice opposing renewal at least three months before expiry.
Kuwait Capital Markets Authority approves private equity fund with capital of KWD 8 million to KWD 35 million
The Kuwait Capital Markets Authority has authorized KFH Capital Investment Company to establish the Riaya Private Equity Fund through a private offering targeting KWD 8 million to KWD 35 million. Investors must subscribe for at least 1,000 units at KWD 1 each, while the manager must contribute at least KWD 100,000 or its currency equivalent. An initial temporary license permits completion of capital and regulatory requirements but prohibits fund activities, with a license valid for three years available once the minimum capital is met.