Qatar in rift with UK adviser

A dispute has broken out between the Qatar Investment Authority (QIA) and its UK adviser that could see the sovereign wealth fund (SWF) buy out all four of their shared investments, people familiar with the situation have said.

The relationship between the QIA and Three Delta is so strained that the authority plans to hire Credit Suisse to advise it on one of the shared investments, troubled nursing home operator Four Seasons, the UK's Financial Times (FT) reported on Tuesday.

Four Seasons, the UK’s third largest nursing home operator, is facing debts of 1.5 billion pounds ($2.9 billion), 1.2 billion pounds of which is due for repayment in three months.

The QIA made the investment in Four Seasons through its Delta fund, which is advised by Three Delta.

Three Delta's founder Paul Taylor has a 50% stake. The QIA is now looking at a deal to buy out Taylor's stake, according to the FT.

The fund has spent around 3 billion pounds on Four Seasons, as well as three other care firms: Care Principles, NHP and Senad.

Three Delta and Credit Suisse declined to comment, the newspaper said.

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