BY SATISH KANADY
DOHA: The Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, yesterday announced the opening of its office in the US. The office, based in New York, will enable QIA to develop and expand its global investment portfolio, with the State ofQatar having committed to investing $35bn in the US over the next five years.
Opening an office in New York will give QIA better access to new and existing investment partners and illustrates the confident outlook QIA holds for the U.S. and the wider Americas. It also marks QIA’s desire to continue its diversification, which is a key objective established by QIA’s strategic review, the country's sovereign wealth fund said in a press note.
The decision to open an office in New York is indicative of QIA’s confidence in the country’s long-term economic growth and investment prospects, and allows the opportunity to strengthen partnerships with both public and private sector organizations.
With world economies, markets and currencies often moving in different cycles and rhythms, the importance of a globally diversified investment portfolio is central to QIA.
Whilst QIA remains committed to its investments in Europe, Asia and the Middle East, this next step facilitates access to significant investment opportunities, whilst enhancing education, cultural and scientific links with the U.S. and expanding QIA’s global footprint.
At the opening of the New York office, Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, the CEO of QIA, said: “With boots on the ground, our presence in New York will anchor our interest in the region. It is the perfect location to help strengthen our existing relationships and promote new partnerships as we continue to expand geographically, diversify our assets and seek long term growth.”
The Peninsula
