Qatar, Citic Plan to Start $10 Billion Investment Fund - Bloomberg

Qatar, Citic Plan to Start $10 Billion Investment Fund - Bloomberg:



"Qatar’s sovereign-wealth fund plans to set up a $10 billion investment venture with China’s Citic Group as part of a push into Asia.



The pair signed a memorandum of understanding today for a joint fund, with the deal to be finalized in coming months, Ahmad Al-Sayed, chief executive officer of the Qatar Investment Authority, told reporters in Beijing. Each will put in $5 billion, he said.



Qatar has invested billions of dollars in China and Asia this year, including in Citic, Alibaba Group Holding Ltd. (BABA) and Hong Kong department-store owner Lifestyle International Holdings Ltd., Al-Sayed said in a statement. The Qatar fund plans to put $15 to $20 billion into the region in the next five years and will expand offices in Beijing and New Delhi, he said."



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