| Founded | 2005 |
|---|---|
| Headquarters | Doha, Qatar |
| Key people | Sheikh Hamad bin Jassim bin Jaber Al Thani |
The Qatar Investment Authority (Arabic: جهاز قطر للاستثمار) (QIA) is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil and natural gas surpluses by the Government of Qatar. As a result of its stated strategy to minimize risk from Qatar's reliance on energy prices, the fund predominantly invests in international markets (United States, Europe and Asia-Pacific) and within Qatar outside the energy sector.
The QIA wholly controls the Qatari Diar Real Estate Investment Company (Qatari Diar), which is a property investment fund.[1]
QIA is estimated to hold in excess of $60 billion of assets, an amount that will significantly increase by 2011 as the state completes its expansion projects to become the world's largest liquefied natural gas exporter with 77 million tons output capacity.[2] The Qatar economy has been one of the most dynamic, where the GDP has risen from $8 billion in 1995 to an estimated GDP of $173 billion.
The chief executive and chairman of the QIA is Sheik Hamad bin Jassem bin Jabr Al Thani.[3] QIA does not publish its holdings to the market. It is not clear if QIA mixes or not personal investments of the royal family members and the funds of the state of the Qatar. Most decisions are made under patronage of Sheikh Hamad bin Jassem bin Jabr Al Thani although QIA claims to be a professionally managed investment fund. QIA funds do not follow the Islamic Sharia due to their investments in banking and other non permissible assets world wide.
Cavendish Holdings Limited holds a 60% stake in ArcelorMittal
Qatar Investment Authority holds a smaller stake in Fisker Automotive, most likely 10% to 15%.
Qatar Investment Authority also holds 17% of total preference shares of Volkswagen, showing interest in becoming an active partner with Volkswagen.
In October 2008 QIA were linked with a takeover of Everton F.C. in a deal worth £200million. The rumours were initially dismissed by Everton[4] only to re-emerge in April 2009.[5]
On 8 May 2010, Qatar Holding, an indirect subsidiary of QIA, purchased the Harrods Group from Mohammed Al-Fayed, including the Knightsbridge department store.[6] QIA are also the largest shareholder in Sainsbury's.
On 5 December 2010, Qatar Investment Authority was part of the investment group that purchased Miramax Films from The Walt Disney Company.
On 18 December 2010, Qatar Holding were rumoured to be prepared to bid up to £1.5 billion for Manchester United F.C..[7] A Glazer Family spokesperson denied these reports, saying the football club was not for sale.
On 31 May 2011, QIA acquired 70% of the capital of Paris Saint-Germain, a French football club, in order to develop its presence in Europe.