SWF Radar QIA

Gulf Times reports that, “Qatar has signed a memorandum of understanding with the Indonesian government to float a joint investment company with a capital of $1bn in Indonesia.”

The article adds that the Qatar Investment Authority (QIA) will contribute 85 percent of the funds for the company, with the Indonesian government contributing the rest.

Financial News reports (subscription required) that, “Sovereign wealth fund Qatar Investment Authority has written off its equity stake in struggling UK care home group Four Seasons after protracted talks with its creditors including Royal Bank of Scotland, according to a source close to the company.”

Private Equity News reports (subscription required) that, “LBO France has signed off the sale of French electrical engineering group Cegelec to a subsidiary of Qatar Investment Authority [QIA] for €1.7bn ($2.6bn) as the sovereign wealth fund returns to making buyouts despite a chequered history.”

The Telegraph reports that, “The Qatari Investment Authority [QIA] has emerged as a potential new bidder for Land Securities’ £1.4bn outsourcing arm Trillium. The Daily Telegraph has learned that QIA has replaced the Investment Corporation of Dubai [ICD] in a consortium which includes property fund manager aAIM.”

Thomson Merger News reports (free subscription required) that, “The Qatar Investment Authority (QIA) has been reinforcing its stake in the UK’s third largest supermarket, Sainsbury’s, over July, revealing on Monday that its stake now stands at 27.28%.”

The Wall Street Journal reports that, “Barclays said the Qatar Investment Authority increased its stake in the UK bank to 6.42% as part of its involvement in Barclays’ £4.5bn (€5.7bn) capital raising launched in June.”

Thomson Financial reports that, “The Qatar Investment Authority (QIA) has raised its stake in J Sainsbury Plc, the UK’s third biggest supermarket group, to 26.0 percent.”

The report adds that a QIA notification to the Stock Exchange revealed that the fund now owns 454.52 million shares in the group, up from 442.2 million.

Brad Setser writes that, “If oil stays at $140, the Gulf — based on projections that imply GCC spending and investment will rise so that the GCC needs $55 to $60 oil to cover its import bill — the big GCC funds and central banks should add close to $400 billion to their foreign assets in 2008.”

The big four he lists and discusses are the Saudi Arabian Monetary Agency (SAMA), the Abu Dhabi Investment Authority (ADIA), the Qatar Investment Authority (QIA) and the Kuwait Investment Authority (KIA).

The Telegraph reports that, “Qatar’s sovereign wealth fund has appointed Ernst & Young to restructure its entire debt-laden £3bn healthcare and property portfolio.”

The Observer writes that, “Given Britain’s unique standing in Qatar as the former colonial power and benefactor, it isn’t surprising that UK companies and assets are top of the QIA’s shopping list.”