Capital Allocators – Inside the Institutional Investment Industry Innovation in Private Markets 3: Sulaiman Alderbas – A Massive Restart at PIFSS (Capital Allocators, EP.194)
May 10, 2021
Sulaiman Alderbas, the Head of Alternative Investments at Kuwait’s PIFSS, played a pivotal role in the institution's restructuring after a major corruption scandal. In this conversation, he shares lessons learned from investing in hedge funds and the complexities of managing diverse portfolios. Sulaiman discusses the shift from passive to active investment, emphasizing collaboration and strategic shifts, particularly in adapting to market dynamics in Asia and Europe. He also reflects on personal growth and the importance of resilience and partnership in navigating challenges.
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Transition to PIFSS
- Suleyman Alderbas transitioned from Kuwait Fund to PIFSS in 2016 after a corruption scandal.
- He was shocked to discover PIFSS's opaque portfolio, only recognizing one out of 80 line items.
Restructuring Principles
- Focus on people, process, and portfolio when restructuring an organization.
- Prioritize passion in hiring, as skills can be taught but passion cannot be replicated.
Rebuilding from Scratch
- Suleyman Alderbas found PIFSS's operations to be outdated, lacking even basic digital records.
- He and his team worked tirelessly, even pulling all-nighters, to rebuild the portfolio information from scratch.
