Wednesday 5 May 2010

Qatar's TFI looks to Brazil and Russia

A Qatari investment company linked to the country's sovereign wealth fund plans to launch two $500m funds to invest in Russian and Brazilian real estate, a further sign of deepening economic links between emerging market countries .

The First Investor (TFI), a company controlled by Qatari Diar, the real estate arm of the Qatar Investment Authority (QIA), will partner Gazprombank in Russia to launch a mostly Moscow-focused real estate fund in October 2010.

The two parties have so far committed a total of $150m to the fund, which is targeting a rate of return of 20 to 25 per cent.

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