SWF Radar QIA

Euromoney writes (subscription required) that, “The credit crisis could leave in its wake rich pickings for Middle East sovereign wealth funds. But what about private-equity-style government groups that rely more on leverage to fund their investments? Some observers now expect substantially less noise in the international markets from such operations as Istithmar, which is part of state-owned conglomerate Dubai World; and Dubai International Capital (DIC), which is part of another conglomerate, Dubai Holding. Even Qatar Investment Authority, a more conventional sovereign wealth fund, will be slightly more subdued, according to some analysts, as its investment model includes leveraged buyouts.”

The Financial Times reports that, “Barclays was Thursday night close to securing a capital injection worth around £6bn from Middle Eastern governments, including Qatar and Abu Dhabi, in a move that will allow the UK bank to boost its balance sheet without turning to the British state for cash. Barclays executives were last night finalising the terms of the capital increase with investors including the Qatar Investment Authority and an Abu Dhabi-based sovereign wealth fund.”

It adds that, “Barclays also held detailed discussions with Libya’s sovereign wealth fund about participating in the fundraising. Late last night, however, the likelihood of the Libyan Investment Authority participating in the deal appeared to have receded.”

The Abu Dhabi-based fund is not identified.

UPDATE (October 31): The Telegraph reports that the Abu Dhabi-based fund is the Abu Dhabi Investment Authority (ADIA).

Thomson Reuters reports that, “The impact of the global financial crisis on Qatar’s foreign investments is limited and its sovereign wealth fund is investing for the long term, the Gulf Arab state’s prime minister [Sheikh Hamad bin Jassim al-Thani] said in remarks published on Monday.”

AFP reports that, “Gas-rich Qatar said on Sunday it has no intention of scaling down massive investments at home and abroad as a result of the global financial crisis. ‘We have no intention of halting infrastructure projects at home or reducing overseas investments,’ Qatari Prime Minister Sheikh Hamad bin Jassem bin Jabr al-Thani told a joint news conference with visiting Greek counterpart Costas Karamanlis.”

The Guardian reports that, “Barclays is set to unveil a £2bn-plus rescue package that will see the Qatar Investment Authority [QIA] boost its investment in the British bank where it already owns an 8 per cent stake.”

Thomson Reuters reports that, “Qatar Investment Authority, the Gulf Arab state’s sovereign wealth fund, will buy 10-20 percent of the capital of banks listed on the Doha bourse to boost confidence in the market, the official QNA news agency said.”

The Financial Times writes that, “The Qatar Investment Authority [QIA]… is continuing to build its portfolio of luxury hotels, even though the luxury hotel sector could be considered in these cash-strapped times, especially for normally high-spending Americans, as a risky business staring a downturn in travel in the face.”

The Scotsman writes that, “Alex Salmond, the [Scottish] First Minister, has been accused of going cap in hand to the Middle East for money because his schemes to pay for Scotland’s infrastructure have failed. It has been revealed that Mr Salmond will visit Qatar to ask for loans for projects such as the new Forth Road Bridge.”

Thomson Reuters reports that, “The Qatar Investment Authority [QIA] has bought a 20 percent stake in British property company Chelsfield Partners LLP, boosting the Gulf state’s interest in commercial real estate, the two partners said on Sunday.”

The Financial Times reports that, “A leading executive of Qatar's sovereign wealth fund [the Qatar Investment Authority (QIA)] on Wednesday disclosed it had spurned the chance to help recapitalise troubled Wall Street banks, in remarks that offered a rare insight into its investment strategy.”