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Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, this week revealed plans to invest $35bn in the US over the next five years in a bid to further diversify its investment portfolio globally.
QIA, which manages the country’s energy-generated surplus revenue, made the announcement at the opening of its New York offices, which it hopes will help expand and develop its investment portfolio. The Doha-based fund is reported to have already invested $7bn in the US market to date.
“With boots on the ground, our presence in New York will anchor our interest in the region,” QIA chief executive Shaikh ‘Abd Allah bin Muhammad Al Thani said at the opening. “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.” (CONTINUED - 631 WORDS)