GIC was established in 1998 to meet the high demands of sophisticated investors for innovative investment solutions and implement the ambitious goals of an experienced management team and a sophisticated list of shareholders.
During the initial years of its operations, we focused primarily on offering Kuwaiti, GCC and international products in the Kuwait market. After establishing our position in Kuwait, we commenced a strategy of geographical expansion by establishing branches and subsidiaries in other GCC countries, the broader region and other emerging markets such as India and Pakistan.
The company’s business model was dependent on five pillars; Asset Management, Investment Banking and Brokerage which are the core business of the company, in addition to the Principal Investments and Real Estate. In 2008, GIC had one of the largest principal investments and proprietary trading operations in the region by asset size.
GIC, like many international businesses, was affected by the worldwide financial crisis and the company defaulted on a syndicated debt in December 2008. GIC worked very hard with its creditors and reached a restructuring agreement in December 2012, the implementation was concluded in July 2013, bringing a comprehensive solution to the Company’s capital structure.
GIC today is well capitalized focusing on its core business comprising of asset management, investment banking and brokerage.