Qatar wealth fund commits $25bn to Goldman investments

The Qatar Investment Authority (QIA) has signed a preliminary agreement with Goldman Sachs, committing $25 billion in investments to US managed funds and co-investment opportunities.

As part of the memorandum of understanding, the sovereign wealth fund will pledge to be an anchor investor in several of Goldman’s flagship and innovative strategies, QIA said in a statement on Tuesday. 

New York-headquartered investment bank Goldman will also provide guidance on capital formation, merger and acquisition opportunities and the development of Qatar’s economy and capital markets, including promoting foreign direct investment and supporting the growth of Qatari companies.

In addition, Goldman will expand its headcount in Doha, with the office becoming a hub and the largest regional asset-management base. No specific numbers on hiring were given.

The partnership provides QIA with premium deal flow in sectors critical to its investment strategy, including artificial intelligence, fintech, digital infrastructure and private credit, CEO Mohammed Saif Al-Sowaidi said.

Further reading:

• Goldman Sachs extends services in Saudi Arabia
• Goldman in talks to secure $10bn deal with Kuwait
• Qatar and Abu Dhabi back Musk’s xAI $20bn fundraising

“By committing to expand its presence in Doha as a key strategic hub for asset management, Goldman Sachs is reinforcing Doha’s position as a regional financial centre,” he added.

QIA has nearly $580 billion in assets under management, according to Global SWF, a data platform that tracks sovereign wealth funds.

Goldman manages over $625 billion in assets. It opened an Abu Dhabi office in May 2023 and received a regional headquarters license in Saudi Arabia in May 2024.