Qatar Investment Authority doubles New York staff in US push

QIA is committed to investing $500 billion into the world’s largest economy over the next decade, its CEO said. Qatar Investment Authority is sticking to its commitment to invest $500 billion in the US over the next decade, a target it should achieve even if the fund needs to draw on its reserves to support Qatar’s economy. Mohammed Saif Al-Sowaidi’s mandate, when he was appointed as CEO, included preparing QIA to invest the windfall expected from Qatar’s liquefied natural gas expansion, he said at CNN’s Global Perspectives conference in Doha. Underpinning the allocation is the attractiveness of the US economy, which accounts for 25% of global GDP and 60% of tradable financial assets, he said. QIA is doubling its New York team to around 45 people to prepare for the deployment. Al-Sowaidi said American leadership in innovation and its investor-friendly environment were driving the decision to boost allocations there.