‘Isolated’ Qatar to raise investments in US to $45bn
QATAR Investment Authority (QIA) aims to raise investments in the US to $45 billion (R621bn) in the next two years as it rebalances its portfolio of assets away from Europe, its chief executive said yesterday.
The sovereign wealth fund has built up a huge European portfolio in companies such as Deutsche Bank, Credit Suisse, London Stock Exchange and Volkswagen.
QIA currently has about $30bn invested in the US, Mansour Ibrahim al-Mahmoud said at a conference.
“We are talking about $45bn for the US market. We are on track for this over the next two years,” he said.
Mahmoud’s predecessor Sheikh Abdullah bin Mohamed bin Saud al-Thani in 2015 committed to invest $45bn in the US over a five-year period.
“Our objective is to balance our portfolio. Currently we have a little bit of concentration in Europe and having this allocation toward the US market is to balance the portfolio,” he said.
In the US, QIA was looking at fundamental sectors such as real estate, technology or US exchanges, he said.