Qatar eyes stake in Morgan Stanley’s commodities unit

The deal involves Qatar Investment Authority, the country's sovereign wealth fund
Qatar eyes stake in Morgan Stanley’s commodities unit
Qatar Investment Authority, the most active Middle East sovereign wealth fund in recent years, has spent 5.7 billion euros on real estate since 2007.
By Shane McGinley
Thu 04 Oct 2012 11:48 AM

Qatar Investment Authority, the country's sovereign wealth fund, is in talks to buy a majority stake in Morgan Stanley’s commodities unit, it was reported on Thursday.

The claim was published by the Financial Times, citing people familiar with the potential deal. However, no price was quoted for the deal.

The QIA, the most active Middle East sovereign wealth fund in recent years, has spent 5.7 billion euros on real estate since 2007, almost 80 percent of it in London and Paris, according to a report published in August by market analysts at Real Capital Analytics.

Qatar funded development of the European Union's tallest skyscraper, the Shard, which opened in London in July.

It also owns Harrods department store and a 27 percent stake in Songbird Estates, the majority owner of London's Canary Wharf financial district.

The QIA also has bought stakes in companies ranging from German sports car maker Porsche, Barclays and luxury goods house LVMH as it has sought to diversify economic risk.

It has more than $30bn to spend on investments this year alone and its spending strategy has been opportunistic, an executive board member said in April.

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