The $450-billion sovereign wealth fund Qatar Investment Authority (QIA) aims to rebalance its portfolio and invest in soccer, technology, and financial institutions. The wealth fund is looking closely at Asia, Europe, and the United States across the verticals of fintech, sustainability, and venture capital.
In an interview to Bloomberg TV, at the World Economic Forum in Davos, Switzerland, QIA CEO Mansoor Al Mahmoud said inflation is the main issue for the global economy, which is facing a challenging time. However, the fund sees this as an opportunity to reposition its portfolio.
Last year, sovereign wealth funds, especially from the GCC region, were active investors particularly in the markets of United Station, Saudi Arabia, and India.
QIA had, in October, agreed to invest €2.4 billion ($2.5 billion) in RWE AG to back the German utility’s purchase of US renewable assets. It is also a cornerstone investor in Porshce AG’s IPO.
The fund has also invested in a clutch of tech startups in Europe, Asia, and the United States. During the 2008 financial crisis, QIA had backed lenders such as Credit Suisse Group AG and Barclays Plc.
The fund has also supported Elon Musk-led Twitter and helped finance the acquisition last year.
Qatar, which recently hosted the FIFA World Cup, is now looking to invest in soccer clubs.
Mansoor said the decision to invest in sports is a commercial decision, with more people engaging in sports and digitisation.
Champions League club Paris Saint-German is owned by Qatar Sports Investment, and the region is now targeting the likes of Manchester United, Tottenham Hotspur, and Liverpool FC.