-Qatar signs USD250m asset management deal with Barclays.
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: 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 and the Qatar Financial Centre 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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|Publication:||Global Banking News (GBN)|
|Date:||May 1, 2012|
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