Qatar Investment Authority
Encyclopedia
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.
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. 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. 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.
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 only to re-emerge in April 2009.
On 8 May 2010, Qatar Holding, an indirect subsidiary of QIA, purchased the Harrods Group
from Mohammed Al-Fayed, including the Knightsbridge
department store. 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.
. 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.
Arabic language
Arabic is a name applied to the descendants of the Classical Arabic language of the 6th century AD, used most prominently in the Quran, the Islamic Holy Book...
: جهاز قطر للاستثمار) (QIA) is Qatar
Qatar
Qatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
's sovereign wealth fund
Sovereign wealth fund
A sovereign wealth fund is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds invest globally. Some of them have grabbed attention making bad investments in several Wall Street financial...
, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
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.
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
Liquefied natural gas
Liquefied natural gas or LNG is natural gas that has been converted temporarily to liquid form for ease of storage or transport....
exporter with 77 million tons output capacity. 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. 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.
Investments
Cavendish Holdings Limited holds a 60% stake in ArcelorMittalQatar Investment Authority holds a smaller stake in Fisker Automotive
Fisker Automotive
Fisker Automotive is an American automaker based in Anaheim, California. The company's first product, the Fisker Karma is among the world's first true electric vehicles with extended range...
, most likely 10% to 15%.
Qatar Investment Authority also holds 17% of total preference shares of Volkswagen
Volkswagen
Volkswagen is a German automobile manufacturer and is the original and biggest-selling marque of the Volkswagen Group, which now also owns the Audi, Bentley, Bugatti, Lamborghini, SEAT, and Škoda marques and the truck manufacturer Scania.Volkswagen means "people's car" in German, where it is...
, showing interest in becoming an active partner with Volkswagen
Volkswagen
Volkswagen is a German automobile manufacturer and is the original and biggest-selling marque of the Volkswagen Group, which now also owns the Audi, Bentley, Bugatti, Lamborghini, SEAT, and Škoda marques and the truck manufacturer Scania.Volkswagen means "people's car" in German, where it is...
.
In October 2008 QIA were linked with a takeover of Everton F.C.
Everton F.C.
Everton Football Club are an English professional association football club from the city of Liverpool. The club competes in the Premier League, the highest level of English football...
in a deal worth £200million. The rumours were initially dismissed by Everton only to re-emerge in April 2009.
On 8 May 2010, Qatar Holding, an indirect subsidiary of QIA, purchased the Harrods Group
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...
from Mohammed Al-Fayed, including the Knightsbridge
Knightsbridge
Knightsbridge is a road which gives its name to an exclusive district lying to the west of central London. The road runs along the south side of Hyde Park, west from Hyde Park Corner, spanning the City of Westminster and the Royal Borough of Kensington and Chelsea...
department store. 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
Miramax Films
Miramax Films is an American entertainment company known for distributing independent and foreign films. For its first 14 years the company was privately owned by its founders, Bob and Harvey Weinstein...
from The Walt Disney Company
The Walt Disney Company
The Walt Disney Company is the largest media conglomerate in the world in terms of revenue. Founded on October 16, 1923, by Walt and Roy Disney as the Disney Brothers Cartoon Studio, Walt Disney Productions established itself as a leader in the American animation industry before diversifying into...
.
On 18 December 2010, Qatar Holding were rumoured to be prepared to bid up to £1.5 billion for Manchester United F.C.
Manchester United F.C.
Manchester United Football Club is an English professional football club, based in Old Trafford, Greater Manchester, that plays in the Premier League. Founded as Newton Heath LYR Football Club in 1878, the club changed its name to Manchester United in 1902 and moved to Old Trafford in 1910.The 1958...
. 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.