The Ashmore Qatar Equity Fund will be serving as a conduit, offering both foreign and local investors exposure to the fertile Qatari economy.
The Qatar Investment Authority (QIA) and the Ashmore Group announced the inauguration of the $200 million Ashmore Qatar Equity Fund on Tuesday to encourage foreign investment.
The new initiative involves the QIA serving as an anchor investor, re-allocating shares in listed Qatari companies.
The Ashmore Qatar Equity Fund will be serving as a conduit, offering both foreign and local investors exposure to the fertile Qatari economy. The initiative will also tap into Ashmore’s investment acumen, as per QIA’s statement.
QIA revealed plans to establish collaborative ventures with leading global asset managers with a focus on Gulf countries.
Partnerships with local asset managers meeting QIA investment criteria will also be forged.
Qatar, a global leader in liquefied natural gas (LNG) exports and host of the successful FIFA World Cup 2022, is actively steering its economy beyond the gas sector while enticing foreign capital.
Established in 2005, QIA is now listed as the 10th largest global wealth fund as per the Sovereign Wealth Fund Institute. It has also been a significant player in Europe, with investments in a range of companies from Volkswagen to global mining corporation, Glencore.
QIA took a 5% stake in the NBA in July, one of the world’s premier sports and entertainment enterprises, venturing into U.S. sports for the first time.
Monumental Sports & Entertainment (MSE), located in the capital of the United States, operates across various sports and entertainment sectors.
In August, Qatar’s sovereign wealth fund announced plans to invest a $1 billion stake in India’s Reliance Retail Ventures Limited (RRVL), Forbes reported.
The investment in the retail arm of India’s Reliance Industries is a 0.99% stake of a pre-money equity value of nearly 100 billion, said RRVL in a press release obtained by Doha News.
As of July 2023, the QIA has an estimated $475 billion worth of assets under management.
In the United Kingdom, QIA possesses a substantial share in Heathrow Airport, amounting to a 20% ownership stake.
It also holds a stake in the London Stock Exchange as well as ownership of around 22% of Sainsbury and nearly 6% in Barclays Bank.