Kuwait Wealth Fund Said to Be Seller of $3.4 Billion AIA Stake

The Kuwait Investment Authority was the undisclosed shareholder behind the HK$26.8 billion ($3.4 billion) sale of a stake in insurer AIA Group Ltd., people with knowledge of the matter said.

The sovereign wealth fund offloaded a 3.7% stake in Hong Kong-based AIA through a series of block trades, the people said, asking not to be identified because the information is private.