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Qatar Holding Creates 12 Billion Listed Company for Overseas Assets

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.

UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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