What Do AMEX and a Sovereign Wealth Fund Have in Common?

Certares LP, Macquarie Capital, funds managed by Blackrock Inc and the Qatar Investment Authority (Qatar Holding LLC) are committing US$ 900 million to a business travel joint venture being spun off by New York-based American Express. The Qatar-based sovereign wealth fund will have a larger stake in the joint venture than the other investors. American Express is selling 50% of its business travel division.

The business travel division faces tough competition from online travel management companies such as Expedia and Priceline.

American Express is in a challenging environment with tighter business travel budgets globally and wants to use the cash toward higher growth areas. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute

institutional investor investment mandates