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by Ted Seides
Capital Allocators

Innovation in Private Markets 3:  Sulaiman Alderbas – A Massive Restart at PIFSS

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Sulaiman Alderbas, the Head of Alternative Investments at Kuwait’s $130 billion Public Institution of Social Security, or PIFSS. Sulaiman arrived at PIFFS from the Kuwait Fund for Arab Development in 2016, shortly before a scandal erupted when the former head of PIFFS was convicted of corruption and embezzling public funds for thirty years amounting to billions of dollars. Alongside Meshal Al-Othman, who joined to lead PIFSS from the Kuwait Fund, Sulaiman took part in a massive restructuring of the organization and portfolio. Our conversation covers Sulaiman’s early experience as an allocator, lessons from investing in thirty hedge fund of funds at the Kuwait Fund, and transition to PIFFS at the inception of the discovery of the scandal. We discuss the restructuring that took place over the last four years that canvassed the people, process and portfolio. Along the way, we touch on competitive advantages of size, knowledge transfer from managers, strategic stakes, and allocator innovation. Learn More
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Episode 194

by Ted Seides