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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

Qatar SWF hires UBS to invest $3bln in VTB

Posted on 27 February 2013

Qatar’s sovereign wealth fund has hired UBS to advise on a possible $3 bn investment in Russian state-controlled bank VTB, a source with direct knowledge of the matter said. Russia’s second-biggest lender, advised by Citigroup, has been working on a capital increase to support day-to-day operations. Analysts say the Moscow stock exchange is too small to supply VTB’s needs.
Qatar Holding, widely seen as an opportunistic investor, has a history of investing in large banks in need of capital. At the peak of the global financial crisis, it invested in banks such as Barclays and Credit Suisse on terms regarded as favourable to the fund. “Talks are very advanced”, one of the people said about Qatar’s discussions with VTB…………………………………..Full Article: Source


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