Qatar Investment Authority was already largest shareholder in jeweler
Qatar’s sovereign wealth fund raised its stake in luxury jeweler Tiffany & Co by one percentage point to 8.7 percent.
Qatar Investment Authority (QIA) was already the single largest shareholder in Tiffany. Shares in the company increased 0.4 percent to US$ 63.32 on the New York Stock Exchange following the announcement.
In 2012 QIA has been buying minority equity stakes in other large companies, including in oil companies as Shell and Eni.
QIA owns a 3 percent stake in oil company Total and has also invested in British bank Barclays. The sovereign wealth fund also owns 17 percent of Volkswagen and 10 percent in Porsche.
The fund is believed to have assets in excess of more than US$100 billion, positioning itself as the 12th world largest sovereign wealth fund by asset under management, according to the SWF Institute.