-Qatar signs USD250m asset management deal with Barclays.
Global Banking News-May 1, 2012--Qatar signs USD250m asset management deal with Barclays(C)2012 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 01 May 2012
Qatar has signed an asset management deal with a private equity unit of UK-based Barclays Plc (LSE: BARC) (NYSE NYSE
See: New York Stock Exchange : BCS), under which the Gulf state will co-invest USD250m as it seeks to expand into commodities investing.
Qatar Asset Management Company (QAMC), a joint venture between the Arab Gulf state's sovereign wealth fund Sovereign wealth fund (SWF) (Sovereign wealth funds) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. and the Qatar Financial Centre Established in March 2005, the Qatar Financial Centre (QFC) is a business and financial centre located in Doha, providing legal and business infrastructure for financial services. Authority will co- invest USD250m in Barclays Natural Resource Investments' (BNRI), current and future portfolio of companies, the companies said. A unit of Barclays, BNRI is a global private equity firm focused on natural resources investment in oil, gas and mining across the world in places like South America and South East Asia.
A major portion of the USD250m will be allocated to BNRI's existing USD2.1bn portfolio of companies. BNRI will continue to source, execute, manage and exit global private equity transactions in the natural resources sectors and co-investors will be invited to participate immediately upon completion of each transaction.
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