The Public Institution For Social Security (PIFSS) was established in 1976 to manage the pensions of Kuwaiti nationals. Part of PIFSS’s portfolio is invested by its fully-owned asset manager Wafra (Arabic for “abundance”, and an area in South of Kuwait City) Inc., a New York-based registered investment adviser. Wafra has an affiliate in Kuwait, Wafra International Investment Co. (WIIC) and has been increasingly active globally, with a platform known Capital Constellation that puts together several State-Owned Investors from North America, Europe and the Gulf.