Almulla exits Kuwait social security fund after nearly a decade

Bader Almulla has stepped down from his roles at Kuwait’s Public Institution for Social Security after nearly a decade with the fund, Markets Group reported on April 7, 2026. Almulla vacated the position of head of the alternative investments department and also relinquished acting responsibility for the private credit and equities departments. In April he additionally stepped down as chairman of the board of directors at Al Rawdatain Water Bottling Co. and as a board member at National Industries Group Holding SAK.

“Leaving was not an easy decision, and the timing made it no easier,” Almulla wrote in a LinkedIn post. “To my colleagues — thank you for your trust, your dedication and the countless moments that shaped who I am today. I leave confident that you will continue to drive this institution forward with the same excellence and integrity that has always defined it.”

Context and career background

Almulla’s departure marks the end of a tenure that Markets Group describes as “nearly a decade” at the Public Institution for Social Security, one of Kuwait’s primary public pension and social security investors. During that period he led alternative investments and, in an acting capacity, oversaw the private credit and equities functions — roles that typically involve sourcing, evaluating and managing allocations to private markets, credit instruments and direct equity investments.

• Most recent roles: Head of the alternative investments department; acting head of the private credit and equities departments at the Public Institution for Social Security.
• Board positions relinquished in April 2026: Chairman, Al Rawdatain Water Bottling Co.; board member, National Industries Group Holding SAK.
• Earlier experience: Associate in the equities group at Wafra; fixed income business analyst at Wellington Management.

Before joining the Kuwait fund, Almulla worked as an associate in the equities group at Wafra and as a fixed income business analyst at Wellington Management, according to the Markets Group report. Those roles suggest a background spanning both public and private market analysis and portfolio management, a profile commonly sought for senior allocator roles at sovereign and public pension funds.

Outlook

Almulla’s LinkedIn statement emphasized confidence in his colleagues to continue the institution’s work with “excellence and integrity,” but Markets Group did not report a named successor. The Public Institution for Social Security will now need to appoint permanent leadership for its alternative investments arm and for the private credit and equities teams; such decisions can influence the timing and scale of commitments to private market managers and credit strategies.

With Almulla’s simultaneous departures from corporate boards at Al Rawdatain Water Bottling Co. and National Industries Group Holding SAK, his exit signals a broader change in his professional engagements that will be watched by peers and partners in Kuwait’s institutional investment community. Markets Group’s coverage did not disclose whether Almulla will pursue new roles in the private sector or elsewhere following his departure.