QIA Announced New $10 Billion Joint Venture fund with Citic Group
QIA open to new partnership opportunities as a key part of overall investment strategy in the region
QIA is expanding its office in Beijing as part of its commitment to long term investment in China
BEIJING, CHINA - Media OutReach - November 4th, 2014 - His Excellency Ahmad Al-Sayed, CEO, Qatar Investment Authority made welcome remarks at the opening of the Credit Suisse 5th Annual Emerging Markets Leadership Forum in Beijing today. Below are extracts from his speech. Prior to the forum there was a reception held in honour of, and attended by, H.H. The Emir Sheikh Tamim bin Hamad al-Thani.
QIA has signed an MOU with CITIC Group
(Left: CITIC Group chairman, Chang Zhenming; Right: QIA CEO, H.E. Ahmad Al-Sayed)
QIA CEO, H.E. Ahmad Al-Sayed
Comments from H.E. Ahmad Al-Sayed, CEO, QIA speaking in Beijing today:
QIA open for partnerships
"Today, we have signed an MOU with Citic Group to create a 50:50 $10billion fund to invest in the region. QIA is open to new partnerships as we look to invest $15-20 billion in the next five years"
"QIA is expanding its office in Beijing and New Delhi, and is opening a new office in New York"
QIA and Greater China
"This year, we have invested billions of dollars in Asia and China, including, most recently, investments in Lifestyle International (Sogo), Citic Group and Alibaba."
"We continue to look for attractive assets and establish new partnerships to create long term value."
"We see real long-term investment potential in companies here in China because of: the Increasing availability of interesting sustainable investment opportunities as the economy develops and diversifies; the growing brand and stature of large Chinese corporates, for example from TMT to banking and Oil&Gas to Transport, and; the continuing emergence of an affluent and increasingly discerning middle class."
"We invested in Lifestyle International, in Hong Kong, because it's a resilient economy, and we are confident that its importance as a regional hub will continue well into the future."
Objectives of the QIA
"QIA is the Sovereign Wealth Fund of the State of Qatar. Its role is to act as the Savings Fund of Qatar. This determines our investment strategy, which means we are a financial investor focused on long term investment performance and we invest internationally across all asset classes."
"We are predominantly a long term investor interested in supporting the success of a company or an asset. This allows us to be flexible and invest in valuable companies even in downturns."
Image
QIA has signed an MOU with CITIC Group
(Left: CITIC Group chairman, Chang Zhenming; Right: QIA CEO, H.E. Ahmad Al-Sayed)
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QIA
CEO, H.E. Ahmad Al-Sayed
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Qatar Investment Authority
Finance
06 Nov 2014