Qatar wealth fund eyes investment in Australia, Asia

Dubai: The Qatar Investment Authority (QIA) aims to expand its operations into Australia, South Korea, and Southeast Asia as part of its growth strategy, according to a Reuters report. Abdulla Ali Al Kuwari, head of Asia Pacific at QIA Advisory, shared this update during a panel discussion at the Milken Institute Asia Summit 2024 in Singapore. He noted that the sovereign fund is beginning to hire locally in both Australia and South Korea.

QIA is assessing investment opportunities such as carve-outs from conglomerates and take-private transactions in Japan, while primarily focusing on the technology sector in India. Al Kuwari emphasised that QIA is a long-term capital provider, investing for the future generations of Qatar, with a focus on pre-initial public offering, private, and publicly listed companies.

In June this year, the fund announced its intention to expand its portfolio in the US and Asia, especially in China and India, aiming to capitalise on more favourable deal terms for investors, according to Mohammed al Hardan, head of QIA’s technology, media, and telecom investments. QIA’s domestic holdings include significant stakes in Qatar National Bank, the largest bank by assets in the Middle East and Africa, as well as in the former telecom monopoly, Ooredoo.