Three Qatari state-backed entities, including the Gulf Arab nation’s acquisitive sovereign wealth fund, are to establish a new overseas fund which will look to invest in energy infrastructure, a statement said on Monday.
The new fund will be run by Qatar Holding, Qatar Petroleum International and Qatar Electricity and Water Company, with a formal agreement to set up the vehicle to be signed later on Monday, a bourse filing from QEWC said.
It will invest outside Qatar “in the fields of power generation, water desalination and treatment, heating and cooling systems, provision of fuel as well as fuel loading and unloading equipment,” the statement added.
A country with one of the highest per capita incomes in the world, Qatar has been extremely active in the investment space in recent years, backed by its huge hydrocarbon wealth.
Qatar Holding, the investment arm of the sovereign wealth fund, has bought up a string of high-profile assets, ranging from French soccer club Paris Saint-Germain to stakes in German sports-car maker Porsche, British bank Barclays and Swiss lender Credit Suisse.