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Qatar Holding Creates 12 Billion Listed Company for Overseas Assets

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Qatar Holding LLC, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), plans to create an investment company called Doha Global Investment worth US$ 12 billion to buy assets internationally. The company would be listed on the Doha Exchange within six to eight weeks. The listed company would have billions in riyals in paid-up capital with half originating from Qatar Holding. The rest of the funds will be raised privately. The initial public offering will be open to Qatari nationals only, later to foreign investors when listed. Qatar has the highest per capita income in the world.

Increasingly, sovereign funds are creating quasi-independent investment platforms, many soliciting external capital to take advantage of their entity competitive advantages.

Given part of Doha Global Investment will be owned privately, the future listed company will be presented opportunities by Qatar Holding, but will have its own final say on decisions and investments.

On February 19, 2013, Hussain al-Abdullah, Vice Chairman of Qatar Holding told reporters in Doha, “You name it – shares, bonds, real estate, private equity. We will look at every sector in every country around the world.”

In recent times, Qatar Holding with Credit Suisse AG agreed to create an asset manager called Aventicum Capital that will target assets in emerging markets.

Scatec Solar Places Big Solar Bet in Bangladesh

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Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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