Singapore continues to attract foreign funds, this time from the Qatar Investment Authority.
The sovereign wealth funds, which manages $300 billion in assets, is building a regional hub in the city-state, according to a «Bloomberg» report citing unnamed sources.
Currently, The QIA has an existing wholly-owned advisory subsidiary – QIA Advisory (Asia Pacific) Pte. Ltd – headed by Abdulla Al Kuwari, according to his LinkedIn profile.
Singapore-Based APAC Investments
Previously, QIA chairman Sheikh Mohammed bin Abdulrahman Al reportedly said that the fund would invest more in Asia and the U.S. – with the latter as the priority – to pursue growth and diversification following substantial investments in Europe.
The QIA’s decision marks yet another example of new and large financial entities making Singapore their regional base of choice in Asia.
Other notable examples include Citi which named Singapore its wealth hub in late 2020 and a flurry of family offices setting up in the city-state such as, most recently, Google co-founder Sergey Brin’s Bayshore Global Management Bayshore Global Management.
Read More:Qatar Wealth Fund Builds Regional Hub in Singapore