Qatar Investment Authority has committed to investing $35bn in the United States over the next five years.
The Qatari sovereign wealth fund made the announcement following the opening of its first office in the United States to develop and expand its portfolio in the country.
QIA said the New York office would give it better access to new and existing public and private sector investment partners and “illustrate its confident outlook in the US and wider Americas”.
The authority also said the office would contribute to its diversification efforts, while voicing its commitment to existing investments in Europe, Asia and the Middle East.
“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,” said QIA CEO HE Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani.
QIA has around $334bn in assets according to Sovereign Wealth Center. It recently committed $20bn for Asia and $10bn for a joint venture with China’s CITIC Group Corp to diversify its portfolio.
The firm’s other assets include London’s Canary Wharf financial district and stakes in Total and Credit Suisse.
By Robert Anderson