Mumtalakat, the sovereign wealth fund of Bahrain, has invested in an Italian healthcare firm as part of its scheme to diversify its sector exposure.
The fund has invested in Italy’s KOS Group through a consortium organised by Italian infrastructure fund F2i that includes one other international investor.
According to a statement from Mumtalakat, KOS Group is considering offering its healthcare services in the Gulf region and may set up operations in the kingdom of Bahrain.
“As a value adding, long-term partner, Mumtalakat aims to support KOS Group’s expansion initiatives as well as its plans to establish a foothold in the kingdom,” says Mahmood Hashim Alkooheji, chief executive of Mumtalakat.
KOS Group operates 76 healthcare facilities including nursing homes, rehabilitation centres, hospitals and mental health clinics.
Earlier this year, Mumtalakat said its profits in the year ending December 31 rose 1% while the value of its investment portfolio was stable at $10.6 billion.
Unlike other sovereign investors in the Gulf region, Mumtalakat is essentially run as a private equity fund.
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