Goldman Sachs and QIA expand partnership with USD25b investment target
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The news: Goldman Sachs and the Qatar Investment Authority (QIA) have agreed to expand their strategic partnership, with the QIA committing a combined total of USD25 billion ($37.15 billion) to funds managed by funds managed by Goldman Sachs Asset Management and co-investment opportunities.
The context: QIA plans to commit funding across new and existing private market strategies as an anchor investor, as well as direct investment opportunities.
The bank said it plans to meaningfully grow its headcount in Doha, and will “look to provide strategic advisory services and guidance on capital formation, M&A opportunities and the development of Qatar’s economy and capital markets, including by encouraging foreign direct investment opportunities and supporting the growth of key Qatari companies.”
Through its Value Accelerator network, Goldman said it will provide resources to the State of Qatar to achieve the nation’s national development objectives.
What they said: This agreement builds on our longstanding relationship with Goldman Sachs and provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit,” said Mohammed Saif Al-Sowaidi, CEO of QIA.
David Solomon, chairman and CEO of Goldman Sachs said: “Qatar is on an exciting path of economic diversification…This creates substantial opportunity to widen the state’s impact, global connectivity, and attractiveness as a multi-faceted investment partner.”
The source: Goldman Sachs press release
