| While most sovereign wealth funds in the Gulf are moving away from European trophy assets, Sheikh Hamad Bin Jassim Bin Jabr Al Thani is sticking to a strategy honed as head of the $250 billion Qatar Investment Authority. The former Qatari prime minister is taking a 10 per cent stake in Spain’s El Corte Ingles, western Europe’s largest department store owner, adding to an agreement last year to inject 1.75 billion euros ($1.94 billion) into Deutsche Bank.
While Sheikh Hamad continues to pursue prestigious European investments, the fund he once headed is heading away from its strategy of buying stakes in European companies such as Barclays and Total. The QIA—and other Gulf funds—are looking increasingly to Asia to capitalise on the region’s growing population and economies, with Qatar saying in December it plans a $10 billion venture with China’s Citic Group...............................................Full Article: Source
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