Qatar took a further step in building itself as a Middle Eastern asset management hub this week by announcing a strategic partnership with a division of Barclays Bank.
The Qatar Asset Management Company (QAMC) has invested $250 million (€188 million) in Barclays Natural Resource Investments (BNRI), a private equity business that targets natural resource opportunities.
BNRI will open an office in the Qatar Financial Centre and commit to hiring local, as well as international, staff.
QAMC is a collaboration between the Qatar Financial Centre Authority (QFCA) and the government Qatar Investment Authority.
Abdulrahman Ahmad Al-Shaibi, managing director of the QFCA which is responsible for building Qatar as a financial hub, said: “This strategic partnership is an important milestone in Qatar’s strategy of developing an asset management hub and promoting the expansion of Qatar’s financial services industry.”
©2012 funds europe
