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Kuwait expects 40% profit from Black Rock investment

01 February 2010

Kuwait Investment Authority invested about $750m in US asset manager BlackRock last year, KIA's managing director told Al Arabiya TV. 'Last May we invested in raising BlackRock's capital, I think $750m...and I think until now we made 40% of profit," Bader al-Saad said. Saad also said that he still expected KIA to make a profit on its $2bn investment in Bank of America, despite a current loss of between 30-40% on the investment.

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