Qatar eyes Sarkozy to head wealth fund – report

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Qatar’s sovereign wealth fund hopes to appoint former French president Nicolas Sarkozy in a senior role at a new private equity fund

Qatar’s sovereign wealth fund hopes to appoint former French president Nicolas Sarkozy in a senior role at a new private equity fund

Qatar’s sovereign wealth fund hopes to appoint former French president Nicolas Sarkozy in a senior role at a new private equity fund, according to a newspaper report.

London’s Financial Times cited anonymous sources claiming that Qatar Investment Authority alongside other investors were prepared to back Sarkozy, who lost last year’s presidential race to socialist Francois Hollande, with up to €500m to run the new fund.

Sarkozy’s leadership of the potential new fund has been put on hold in recent weeks however as he seeks a return to French politics amid declining public sentiment toward Hollande, two people close to the matter reportedly said.

“The Qataris are taking an option on the next president of France,” a third source familiar with the venture told the FT.

The newspaper said that Sarkozy was keeping the wealth fund option on the table as a backup if a mooted return to the political frame, which his wife Carla Bruni-Sarkozy is said to oppose, fails to materialise.

According to the FT, Sarkozy has already consulted friends on how and where best to invest the Qatar-backed fund, with emerging markets including Brazil and Morocco, as well as Spain, being discussed.

Any new fund would be based in Paris with Sarkozy in a non-executive role. He would not invest funds himself, but would instead open doors and originate transactions by taking advantage of his political connections.

A spokesperson for Sarkozy refused to elaborate on the matter when contacted by the FT. “Mr Sarkozy receives business proposals regularly and he hasn’t said yes to any yet,” they said.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
End of Gaza war doesn't translate into peace

End of Gaza war doesn't translate into peace

A week after the guns fell silent in the Gaza war, Israel and...

Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Q&A with Dubai Chamber

Q&A with Dubai Chamber

We spoke with Essa Al Zaabi of Dubai Chamber of Commerce to find...

Most Discussed