Deals
Qatar, Citic Plan to Start $10 Billion Investment Fund
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Qatar’s sovereign-wealth fund, which controls more than $100 billion of assets, plans to set up a $10 billion investment venture with China’s Citic Group as it seeks to diversify from retail and property assets in Europe.
The two signed a preliminary agreement for the fund today, with the deal to be completed in coming months, Ahmad Al-Sayed, chief executive officer of the Qatar Investment Authority, told reporters in Beijing. Each will invest $5 billion.