Qatar’s $300 billion sovereign wealth fund is building a regional center in Singapore.. What is the point? | A homeland tweeting outside the flock

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People familiar with the matter said Qatar’s $300 billion sovereign wealth fund is building a regional hub in Singapore, as part of its efforts to diversify its financial portfolio geared toward Europe and the United States.

While the QIA has done deals in the past, the local base will help boost its presence in the Southeast Asian country and beyond.

Abdullah Al-Kuwari. According to his LinkedIn profile, he is now residing there as head of the Qatar Investment Authority (Singapore), along with Jason Chiu, an advisor.

A representative of the Qatar Investment Authority said on Wednesday that the fund has a wholly owned advisory firm in Singapore, but did not provide further details.

Earlier this year, another representative said that the subsidiary there would serve as a “stepping stone” for investment opportunities in the region.

Qatar Sovereign Wealth Fund

Qatar’s sovereign wealth fund has pledged to increase investment in Asia and the United States as it seeks growth and diversification after years of heavy investment in Europe.

Chairman Sheikh Mohammed bin Abdulrahman Al Thani told Bloomberg earlier this year that Asia “has been on our radar a lot.” He said North American deals, however, will remain a priority.

In a June 2021 letter to the Singapore Corporate Regulatory Authority, the Qatar Investment Advisory Authority (Singapore) PTE said: It is a wholly owned subsidiary of the Qatar Investment Authority and has requested a change of its local name.

“To better reflect the scope of our business covering the Asia Pacific region, not Singapore, we are proposing to change our company name,” the announcement reads, “Qatar Investment Advisory Authority (Asia Pacific) PTE.” as his preferred option.

Qatar Investment Authority

The Qatar Investment Authority was established in 2005 and ranks 11th in the list of the world’s largest wealth funds, according to the Qatar Sovereign Wealth Fund Institute. It holds stakes in some of the world’s largest companies including the London Stock Exchange Group Plc, Volkswagen AG and Glencore Plc.

Qatar’s sovereign wealth fund also participated in a financing round of Chinese electric car startup Xpeng ahead of its initial public offering in the United States last year.

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