Qatar Investment Authority (QIA) and Goldman Sachs Asset Management have signed a Memorandum of Understanding (MoU), under which the former plans to commit $25bn to funds managed by Goldman Sachs and co-investment opportunities.
Under the agreement, QIA will act as an anchor investor in several flagship strategies led by Goldman Sachs.
The partnership includes Goldman Sachs’ plans for significant headcount increases in Doha, making it the largest regional office for asset management. The expanded office footprint will offer more resources for Qatari clients as well as global clients seeking opportunities in the region.
Goldman Sachs’ Value Accelerator network will provide resources to help Qatar achieve its national development goals while enhancing engagement between Qatar and regional or global partners. The firm will also offer strategic advisory services related to capital formation, mergers and acquisitions (M&A), and capital market development.
The company manages over $625bn in alternative assets globally across private credit, private equity, real estate, sustainability, hedge funds, and infrastructure.
The agreement remains subject to certain terms and conditions.
“QIA is pleased to partner with Goldman Sachs in this landmark agreement, which sees two institutions with aligned investment goals joining together to gain enhanced access to world-class investment opportunities for the years to come," QIA CEO Mohammed Saif Al-Sowaidi said.
“This agreement builds on our longstanding relationship with Goldman Sachs and provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit,” he added.
Goldman Sachs chairman and CEO David Solomon said: “Qatar is on an exciting path of economic diversification, including the expansion of its impressive ecosystem of national champions, the development of its capital markets and the growth of its talent base. This creates substantial opportunity to widen the state’s impact, global connectivity, and attractiveness as a multi-faceted investment partner.”
