Qatar’s sovereign wealth fund has set up a wholly-owned advisory subsidiary in Singapore.
The move is designed to diversify the Qatar Investment Authority’s (QIA) portfolio and to expand its presence in Asia Pacific. Typically, the fund has invested in European and US assets.
However, it has turned its attention to Asia in recent times. In late 2019, the QIA paid US$450 million for a stake in Indian power company Adani Electrical Mumbai Limited. More recently it invested in funding rounds for Indian e-commerce firm, Flipkart, and Chinese electric car start-up, Xpeng.
While the QIA has invested in Singapore before, the new Singapore office is designed to boost its ability to invest capital in the region.
The Singapore office will be headed by Abdulla Al Kuwari as head of QIA Advisory (Asia Pacific) along with Jason Chew, who is an adviser.
According to a letter written to Singapore’s corporate regulator, the QIA is looking to name the subsidiary QIA Advisory Asia Pacific.
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