Qatar Investment Authority (QIA) has invested US$500 million in global growth equity strategies managed by US alternative investment firm General Atlantic.
The move is part of a strategic partnership struck by Doha-based QIA, one of the world’s largest sovereign wealth funds, and the New York-based firm which manages around $118 billion of assets.
The wealth fund made the announcement in a statement posted on its website on May 11, saying that the move reflects its “ongoing commitment to global partnerships and long-term capital deployment”.
It says the partners will also collaborate on thematic research and market insights to strengthen sourcing and investment conviction across strategies, and support portfolio companies seeking access to Middle Eastern markets.
According to QIA, General Atlantic will also provide development opportunities for employees of the wealth fund to facilitate knowledge transfer, foster innovation, and cultivate the next generation of investment leaders.
QIA has around $580 billion of assets under management.
