Qatar Investment Authority

Qatar fund ready to invest in French shipping group: report
According to France 24, "The Gulf emirate of Qatar is offering to invest one billion dollars in France's heavily-indebted CMA CGM, the world's third-biggest shipping group, a report said on Friday. The Qatar Investment Authority (QIA), which manages investments for the gas-rich nation, has offered the equivalent of 740 million euros in the form of loan guarantees, French business magazine La Lettre de l'Expansion reported.

"CMA is in discussion with the Qatar fund," a source close to the matter told AFP, without providing more details. An agreement could be reached by the northern hemisphere summer."
read more: France 24

$1 Billion Indonesia fund launch soon
According to Gulf Times, "Qatar Holding, the investment arm of the state’s sovereign fund, may launch a wholly-owned fund in Indonesia by the end of this month, the Jakarta Globe reported yesterday, citing the chairman of Indonesia’s Investment Co-ordinating Board. Qatar Holding plans to invest in infrastructure, energy and mining services via the fund, which will have $1bn in startup capital, the report said. The sovereign fund, Qatar Investment Authority, had been in talks with the Indonesian government to set up a joint investment vehicle, but finally decided to establish a wholly-owned venture, the report said."
read more: Gulf Times

Qatar fund in talks for 10% stake in Hinduja Power
According to Livemint, " Mumbai: Qatar Investment Authority, or QIA, the sovereign investment fund promoted by the emirate’s ruling family, is in the final stages of negotiations to purchase a 10% stake in Hinduja National Power Corp. Ltd, or Hinduja Power, said two persons familiar with the development. The fund will pay Rs200 crore, at Rs40 a share, for the stake in the company that’s building a 1,040 MW coal-based energy plant at Visakhapatnam in Andhra Pradesh.

'We have been in dialogue with quite a few investors,' Ashok K. Puri, managing director of Hinduja Power, said in an interview earlier this week, declining to give any more details. 'The Hindujas will be in the driver’s seat and till the deal is finalized, we will not be able to comment about the transaction.'"
read more: Livemint

Qatar tops up war chest by selling VW pref shares
According to Forbes, "Qatar Holding, the Gulf state's investment arm, plans to sell up to half its Volkswagen preference shares, raising around 1.6 billion euros ($2.4 billion) for other deals. The news sent VW preference shares -- widely expected to join Germany's blue-chip DAX index once VW ordinary, voting shares drop out due to low free float -- down more than 12.7 percent by 0951 GMT. Qatar Holding said it was selling as many as 25 million preference shares in Europe's biggest carmaker 'to enhance the liquidity' of the preference shares, but added it remained committed to its Volkswagen investment.

'QH intends to continue increasing its holding in Volkswagen AG ordinary shares to 17 percent, as previously announced, subject to receipt of regulatory approvals,' it said in a statement.

That would give Qatar Holding the third-largest voting stake in Volkswagen behind automotive group Porsche ( PSEPF.PK - news - people ) SE and VW's home state of Lower Saxony. At the end of August, Qatar's voting stake in VW was 6.78 percent."
read more: Forbes

U.S. Embassy Building in London Sold to Qatari Diar
According to Bloomberg, "The U.S. embassy building in London will be bought by part of Qatar’s sovereign wealth fund and its staff will vacate Grosvenor Square after more than 70 years. Qatari Diar Real Estate Investment Co. agreed to purchase the Chancery building, the embassy said in a statement today. The proceeds will fund the construction of a new embassy building in the Nine Elms area of London’s Wandsworth district, south of the River Thames, which will start by 2013. Diar will secure the remaining 945 years on the Mayfair district building’s lease. The property, which occupies the entire west side of the square, has 225,000 square feet (21,000 square meters) of space on nine floors and holds about 750 staff. The U.S. government will stay there until the relocation is completed in 2016 or 2017, according to the statement."
read more: Bloomberg

South Korea Government To Meet Middle East Investors Next Week
According to the Press Release, "The South Korean government will meet with investors and authorities in the Middle East next week, with the aim of facilitating closer economic cooperation and investment ties between the two sides, the Ministry of Strategy and Finance said Thursday.

A team led by a vice finance minister will hold non-deal roadshows in Dubai on Nov. 2 and in Abu Dhabi the following day, when Korea's sovereign wealth fund, Korea Investment Corp., will sign a cooperation agreement with the Abu Dhabi Investment Authority, the finance ministry said.

South Korea is also in talks with the Qatar Investment Authority for a similar agreement, it added. Korean officials are expected to update top executives from the region on the local economy, investment in infrastructure projects and regulatory changes on the issuance of Islamic bonds, it said. The Korean government is aiming to attract capital from Islamic markets to diversify overseas debt sources and spread risk. The ministry had said earlier this year it will set a benchmark rate for Islamic bonds once the relevant tax law revision is sanctioned by the National Assembly."
read more: Nasdaq press release

Qatari Diar raises QR4 Billion through Islamic debt
Gulf Times reports, "Qatari Diar Real Estate Investment Company has raised QR4bn through syndicated Islamic debt, 14% more than what it mandated. The Qatar Investment Authority (QIA) subsidiary had targeted QR3.5bn but the overwhelming interests from leading financial institutions led to a final mop up of QR4bn, which is the biggest syndication facility in the country this year.Qatari Diar had mandated Qatar Islamic Bank as the mandated lead arranger (MLA) for the five-year Shariah compliant syndicated facility ‘Murabaha’, whose proceeds are to be used for its domestic and overseas, particularly European, investments.

'At the time of closing, the transaction was largely oversubscribed and upsized to QR4bn,' said QIB.

This is the first time that a local Qatari bank has been appointed as the sole MLA and book-runner for the high profile transaction."
read more: Gulf Times

UK Canary Wharf Group gets Qatari Fund boost
Gulf Times reports, "Qatar Holding, a strategic and direct investment arm of Qatar Investment Authority (QIA), will extend debt finance to part fund Songbird Estates’ purchase of additional 8.45% equity in the London’s realty developer Canary Wharf Group (CWG). Songbird Estates, in which the Qatar Holding seeks to be one of the largest shareholders, has invested £112.5mn in buying another 54mn shares in CWG, a leading real estate and development company with more than 7mn square feet of office and retail space. The purchase of additional stake will increase the share of Songbird, which is incorporated in England and Wales, in the CWG to 69.3% from 60.8%."
read more: Gulf Times

Qatari Diar launches $150m Tajik project
Trade Arabia reports, "State-owned investment firm Qatari Diar has launched a luxury real estate project in Tajikistan worth at least $150 million, the Qatari News Agency said on Saturday. The Dushanbe Diar project in the Tajik capital Dushanbe will include residential towers, a five-star hotel, shopping malls, conference centres and gardens when finished in 2012 at a cost of between $150 million and $180 million, the agency said. The project is Qatari Diar's first in Central Asia. The unit of the Gulf Arab country's sovereign wealth fund the Qatar Investment Authority has said it might delay plans to invest in Asian countries such as China, Vietnam and Cambodia because of the global financial crisis."
read more: Trade Arabia

Qatar wants to be largest Songbird shareholder
Reuters reports, "Qatar Holding LLC aims to become the largest shareholder in Songbird Estates, owner of much of London's Canary Wharf office complex, the investment arm of the Qatari wealth fund said late on Friday.

'Qatar Holding has today announced that following the proposed equity issue and loan repayment by Songbird Estates Plc ... it intends to become the largest shareholder in the company,' the group said in a statement.

Qatar's sovereign wealth fund on Friday joined China Investment Corporation to subcribe to 275 million pounds ($447.9 million) in preference shares issued by Songbird."
read more: Reuters

Qatari fund offers ray of hope for Polish shipyards: Government
AFP reports, "A ray of hope emerged Tuesday for two struggling Polish shipyards as the government said Qatar's national investment fund could step in after the failure of their sale to Qatari investors.

'I received an official letter from the Qatar Investment Authority concerning the launch of moves that could lead the authority to take over the investors' commitments to the shipyards,' Treasury Minister Aleksander Grad told reporters.

Earlier Tuesday, Warsaw had said that the investors had failed to meet an August 17 payment deadline for the takeover of the Baltic Sea shipyards of Szczecin and Gdynia."
read more: AFP

QIA unit to open firm in Indonesia this year
Gulf Times reports, "a Qatar Investment Authority (QIA) subsidiary is planning to open an investment firm in Indonesia by the end of this year, according to a senior government official of the Southeast Asian country.

The QIA, through its Qatar Holdings, is opening the firm whose investment is expected to be in the range of $1bn. It will focus on energy and infrastructure sectors. 'Based on our latest meeting with Ahmad al-Sayed, the CEO of Qatar Holdings, it is decided to establish an investment firm in Indonesia this year,' Indonesia’s special envoy to the Middle East Alwi Shihab was quoted as saying by Jakarta Globe newspaper.

The setting up of the investment fund follows a Memorandum of Understanding (MoU) signed between the two governments in May. In August last year, Indonesian Ambassador to Qatar Rozy Munir told Gulf Times that the 'joint investment company' will focus on the development of energy sectors, power plants and infrastructure in Indonesia."
read more: Gulf Times

Qatar Holding cuts Barclays stake
On April 23, 2009, Trade Arabia reports that, "Qatar Holding, the biggest shareholder in Barclays, said it sold 35 million shares in the British bank to cut its stake to 5.8 per cent from just over 6 per cent. Qatar Holding said it remained a supportive long-term shareholder in Barclays and sold the shares 'as part of a volatility-driven portfolio management strategy which it applies to a small part of its aggregate holding,' according to a report in our sister newspaper Gulf Daily News. Qatar Holding is the prime vehicle for strategic and direct investments by the government. It is an arm of Qatar Investment Authority founded in 2005 to strengthen its economy by diversifying into new asset classes. Barclays said the share sale was on Friday, when its shares closed at 227 pence, valuing the stake at £79 million."
read more: Trade Arabia

Carbon Trust signs MoU with CECIC for technology development
The Peninsula reports that, "With Qatar;s active backing, London-based Carbon Trust has singed a key agreement with the China Energy Conservation Investment Corporation (CECIC) to develop and deploy low carbon technologies in China. The Carbon Trust signed a Memorandum of Understanding (MoU) with the Qatar Investment Authority (QIA), the country's sovereign wealth fund, just two months ago to create a significant investment fund to tackle climate change. The 10m deal will see a joint venture created to accelerate low carbon innovation and technology transfer in China, opening new markets for innovative, British clean technology companies and reducing global carbon emissions. The Carbon Trust signed the agreement with CECIC to accelerate low carbon innovation in what is already one of the fastest growing markets for low carbon technologies."
read more: The Peninsula

Qatar signs deal for new luxury hotel in Cuba
Reuters reports that, "Qatar and Cuba signed an agreement on Wednesday to build a $75 million luxury hotel on Cuba's Cayo Largo in the first major joint venture between the wealthy Gulf emirate and the communist island. Construction on the 250-room project would begin next year with the aim of opening in 2012, they said. The two state-owned partners, investment firm Qatari Diar and Cuba's Gran Caribe, said the five-star hotel could be expanded to 450 rooms. Sixty luxury villas are also planned. Cayo Largo is an island in the Caribbean Sea off Cuba's southwestern coast."
read more: Reuters

Qatar gives Credit Suisse clear backing
Maktoob reports that, "Credit Suisse's largest shareholder gave the Swiss bank clear backing on Friday, saying it should emerge as a winner in the crisis, a day after it turned in forecast-beating profits. The Qatar Investment Authority, Credit Suisse's biggest shareholder, with a nearly 10 percent stake, and Israel's Koor, with just above 3%, praised Credit Suisse's approach through the crisis and said they expected the bank to benefit more than peers in a market recovery.

'We have ... faith that Credit Suisse will be a very strong player this year,' Ahmad al-Sayed, chief executive officer and board member of Qatar Holding, told more than 2,000 Credit Suisse shareholders gathered for their annual meeting."
read more: Maktoob

Qatari Diar to focus on existing projects
Peninsula reports that, "State-owned investment firm Qatari Diar said yesterday it would focus on its existing 40 projects before expanding into new areas as the global financial crisis hits the world’s top oil exporting region. “(The crisis) is making us rethink our products but we continue to move ahead cautiously,” John Ward, investment advisor at Qatari Diar, said on the sidelines of a real estate conference in Abu Dhabi.

Qatari Diar, a unit of the Gulf Arab country’s sovereign wealth fund the Qatar Investment Authority, was still interested in investing in the United Kingdom as well as China, Vietnam and Cambodia, but was waiting for markets to settle, he said.

'We continue looking to gauge the market but whether we will buy office blocks or not, we will see how London plays out. We are staying flexible,' he said, adding that it was also not clear if investments in Asia would come this year or next."
read more: Peninsula

Qatar Seeks Blue Chips to Diversify, Leader Says
Bloomberg reports that, "Qatar may buy stakes in three blue-chip companies and increase existing holdings, the Gulf state’s prime minister said.

'We cannot build all our reserves on one kind of investment, so we have to spread it,' Hamad bin Jasim said in a Bloomberg Television interview yesterday at the World Economic Forum in Davos, Switzerland. 'We are talking with two to three companies at the moment. We are looking for the blue-chip companies.'

The country is considering investing in financial services, industrial companies and tourism, said Bin Hamad, who is also head of the country’s $58 billion sovereign wealth fund. Qatar is reviewing the targets’ assets and liabilities and is seeking companies with stable dividends. He declined to identify investment candidates."
read more: Bloomberg

The Honk Kong and Shanghai Hotels, Limited and Qatari Dair Real Estate Investment Company sign a contract to develop the Peninsula Paris.
"Hong Kong, 20 January 2009 – The Hongkong and Shanghai Hotels, Limited (HSH) and Qatari Diar Real Estate Investment Company (Qatari Diar) announced today that negotiations have been concluded and formal sets of agreements have been signed for the purchase by HSH of a 20% interest in a subsidiary of Qatari Diar which owns the building that currently houses the Centre International de Conferences on Avenue Kleber, Paris, France for a total cash consideration of approximately Euro 100 million (approximately HK$1,024 million). HSH and Qatari Diar have agreed to re-develop this building into The Peninsula Paris hotel, upon completion of which the hotel and ancillary facilities will be managed by a subsidiary of HSH for a period of 30 years with an automatic renewal of a further 20 years, subject to meeting certain performance criteria.

The estimated total re-development project cost is expected to be financed through a combination of commercial borrowings and the resources of Qatari Diar and HSH in proportion to their respective shareholdings. Under the Shareholders Agreement, HSH’s expected commitment to the re-development cost is approximately Euro 50 million(approximately HK$512 million).

Re-development of the hotel is scheduled to commence in the second quarter of 2009, following vacant possession of the building with completion expected by the end of the first quarter of 2012."
read more: HSH Group Press Release

Doha Bank approves share sale to Qatar wealth fund
According to Reuters, "Doha Bank DOBK.QA said on Monday shareholders had approved a plan to raise its capital by up to 20 percent in order to sell a stake to the Gulf state's sovereign wealth fund, the Qatar Investment Authority (QIA). The shares would be issued at their closing price on Oct. 12, Doha Bank said in a statement on the bourse website. The shares closed at 42.7 riyals ($11.72) that day. Doha Bank said the capital increase would take place in two stages. In October, the QIA launched a $5.3 billion plan to buy shares of listed banks to shore up investor confidence as regional markets slump during a global economic downturn."
read more: Reuters

Minister vows more funds for infrastructure
According to the Gulf Times, "ahead of next year’s budget, Qatar’s Finance Minister HE Yousef Hussein Kamal yesterday hinted at more allocation for the infrastructure sector.

'Qatar’s intention is to focus more in infrastructure in the next budget,' Kamal said, opening the KPMG’s seventh Middle East and South Asia (MESA) partners’ conference.

Spending on infrastructure would be higher than in previous years, he said but did not elaborate on how much the allocation would be for the sector in the 2009-10 budget, which is usually presented in March."
read more: Gulf Times

Qatar, U.K. Establish $400 Million Clean-Energy Investment Fund
Bloomberg reports that, "Qatar and Britain will establish a 250 million pound ($403 million) fund to pay for the development of technologies that help produce low-carbon-emitting energy. The Qatar Investment Authority pledged 150 million pounds, while the U.K.'s Carbon Trust, a government body, pledged 10 million pounds and a commitment to attract investment from private companies worth an additional 90 million pounds. The money will be invested in pioneering clean-energy companies."
read more: Bloomberg

Qatari Diar Completes The Acquisition of Cegelec
Qatari Diar completes the acquisition of Cegelec
read more: Cegelec Press Release

Qatar to buy 10-20 pct of listed bank shares -QNA
According to Hemscott, "Qatar Investment Authority, the Gulf Arab state's sovereign wealth fund, will buy 10-20 percent of the capital of banks listed on the Doha bourse to boost confidence in the market, the official QNA news agency said. It said the shares would be bought at Sunday's closing price. The decision came at a meeting between Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani, listed banks and the vice governor of the central bank, at which he promised to support growth."
read more: Hemscott

QIA buys 20% of UK property firm Chelsfield Plc
According to Reuters, "the Qatar Investment Authority has bought a 20 percent stake in British property company Chelsfield Partners LLP, boosting the Gulf state's interest in commercial real estate, the two partners said on Sunday. Chelsfield, which owns London's Camden market among other notable properties, was formed by Elliott Bernerd and Stuart Lipton, who together created Chelsfield Plc, a listed business that was taken private three years ago."
read more: Thomson Reuters

Qatar, Indonesia set up joint $1 billion fund-report
Gas exporters Qatar and Indonesia have set up a $1 billion fund to invest in energy and infrastructure, Indonesia's ambassador to Qatar said in remarks published on Sunday. Reporting by Simon Webb; editing by Jacqueline Wong in Reuters. Qatar is the world's largest exporter of liquefied natural gas (LNG), while Indonesia is the third-largest. LNG is gas chilled to its liquid form for export. Both countries are also members of the Organization of the Petroleum Exporting Countries (OPEC). Qatar will contribute 85 percent of the funds for the new fund and Indonesia the remainder, the Qatar daily newspaper the Gulf Times quoted ambassador Rozy Munir as saying. Qatar's state investment fund, the Qatar Investment Authority (QIA), had signed a memorandum of understanding with the Indonesian government, Munir said.
read more: Indonesia Investment Coordinating Board

QIA Writes Off Value of Four Seasons Equity Stake
According to Bloomberg, "Qatar Investment Authority has written off the value of its equity holding in Four Seasons Health Care Ltd., a U.K. care-home provider, the Wall Street Journal reported, citing an unidentified person familiar with the situation. Four Seasons was bought by the sovereign wealth fund's former U.K. investment vehicle, Three Delta LLP, for 1.4 billion pounds ($2.7 billion) in 2006, with 1.3 billion pounds of debt and 100 million pounds of equity, the Journal said."
read more: Bloomberg

Qatar Diar seals 1.7bn for Cegelec from LBO France
According to many sources LBO France is sold off the French electrical engineering group Cegelec to Qatar Diar. LBO France purchased the firm in 2006.
read more: Efinancialnews

Qatar Diar and SBM deal on hold for now
According to the Qatar Diar website, Qatar Diar made an announcement on July 6, 2008 of its intention to acquire 30% of the Societe des Bain de Mer et du Cercle des Etrangers e Monaco (SBM) at a price of 725 euros per share. They met with the Board and the majority shareholder. However, the Board made it clear that they only want the firm to purchase up to 10% of SBM. Qatar Diar fired back and said that it could not continue the bid.
read more: Qatar Diar

QIA buys into Barclays Bank
Investors from the Middle East and Asia continue to buy financials. According to Thomson Reuters, "Qatar's sovereign wealth fund paid 1.4 billion pounds for a 6.2 percent stake in Barclays and a member of Qatar's ruling family spent 432 million pounds on a 1.9 percent stake, based on each anchor investor getting 81 percent of their allocation.

Other investors to back the offer were state-owned China Development Bank, Singapore's Temasek and Japanese bank Sumitomo Mitsui. CDB has kept its Barclays stake at around 3 percent, Temasek will own 2.5 percent to 3 percent, and SMFG will own about 2 percent.
read more: Thomson Reuters

Qatar Investment Authority invests in Barclays
According to the Telegraph, "Yet this week a state fund that invests on behalf of the Qatari people and a private fund owned by the country's prime minister and his family agreed to buy nearly 8% of Barclays, a bank with a market cap of almost #20bn."
read more: Telegraph

QIA and Three Delta's relationship has broken down
According to Financial Times, "the relationship between the Qatar Investment Authority and Three Delta, its UK investment adviser run by Paul Taylor, has broken down and the sovereign wealth fund is working on buying out his interest in Four Seasons, the UK nursing home operator. The potential split between QIA, which made an abortive takeover bid for the J Sainsbury's supermarket chain last year, and Taylor could prompt the fund to buy out all four investments made since Three Delta's creation two years ago. The Delta Fund spent about #3bn on four UK care businesses but the #1.4bn buyout of Four Seasons is under most pressure because at least #1.2bn of its #1.5bn debt load is due for repayment in just three months time."
read more: Financial Times

Qatari Diar firm eyeing projects in Palestine
Qatari Diar Real Estate Investment Company is exploring opportunities in the fields of health, education and industries in Palestine, a week after it announced a first investment of $245mn in that country. "We will be following with another project in Palestine," said Ghanim bin Saad al-Saad, CEO of Qatari Diar, a wholly-owned arm of Qatar Investment Authority. The proposed areas were on education, health and industry, he said on the sidelines of a function to explain its partnership with Palestine's Massar International to build a QR350mn self-sufficient township at Rawabi, which eyes investments worth more than $1bn in the next 4-5 years.
read more: Gulf Times

QIA to invest in Asian Real Estate
QIA plans to invest around 40% of its real estate allocation in Asia.

According to Bloomberg, "the Qatar Investment Authority has been investing in property in the past 2 1/2 years to diversity its holdings.

Qatar Investment Authority last week bought a 27 percent stake in a Vietnamese property fund, Dragon Capital, which will buy into offices and serviced apartments in Ho Chi Min City. It may also look to invest in individual projects with the fund."
read more: Bloomberg

Qatar Oman Investment Company setting up a new investment company
According to the Gulf Times, "the Qatar Oman Investment Company (QOIC) is exploring possibilities of setting up a new investment company with a capital of QR300mn in Oman. A spokesman for QOIC, in which Qatar Investment Authority and Oman government together held 40% stake, said the new investment company's aim was to invest in all economic activities. However, he did not furnish more details regarding when the company would start operations and what would be the proportion of its investment in various sectors. QOIC was established in July 2006 with a paid-up capital of QR300mn to invest in both countries' financial, educational, health care, tourism, real estate and other sectors. In Oman, the largest share of investments (45%) would be devoted to real estate and infrastructure development, while in Qatar; the largest share (25%) would target the financial services sector."
read more: Gulf Times

QIA increases LSE stake
The Qatar Investment Authority's stake in London Stock Exchange Group PLC rose to more than 15 per cent as the U.K. market started its share buyback, regulatory filings show. The Qatari government-owned investment fund, which previously held 14.9 per cent of LSE, now holds 15.078 per cent, according to filings released yesterday.
read more: The Star

QIA focuses on RBS investment
The Qatar Investment Authority (QIA) may be considering a small investment on RBS as the home for part of a $15 billion pool of cash that it is planning to invest in European and U.S. banks.

Royal Bank of Scotland (RBS) is Britain's second largest bank. Major banks such as Citigroup Inc., have turned to sovereign wealth funds for capital injections as the global credit crisis has deepened.
read more: Reuters

1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.

Fund Information Feedback: please email
Please read Fund Feedback Policy, only reply if you are representative of this Fund.