Qatar Investment Authority consolidates domestic portfolio

The sovereign wealth fund moved companies into a new division, Doha Investment, which will hold more than 40 firms. Doha is moving the Qatar Investment Authority’s domestic assets into a separate unit as it seeks to attract more foreign capital and increase private sector involvement in the economy. The sovereign wealth fund moved companies including AI-focused Qai, Qatar Airways, and Qatar National Bank into a new division, Doha Investment, which will hold more than 40 firms and plans to build new businesses in advanced manufacturing, healthcare, and supply chains. The restructuring — under discussion since 2017, when QIA managed about half its current estimated $580 billion in assets — will help the fund fulfill its dual mandate of investing surplus energy income abroad while creating “national champions” at home, Finance Minister Ali AlKuwari said at the Qatar Economic Forum, Powered, in New York. Qatar’s economy is expected to contract this year due to the war’s disruption of energy exports. The drag on the non-oil sector may be partly offset by a domestic stimulus unveiled Sunday: more than $60 billion in opportunities for private investors over five years, compri