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Guide to Qatar Sovereign Wealth Fund Assets

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Guide to Qatar Sovereign Wealth Fund Assets GUIDE TO QATAR SOVEREIGN WEALTH FUND ASSETS © 2016 Steven Humphrey www.plateaugroup.org SAMPLE Special Topic Series Guide to Qatar Sovereign Wealth Fund Assets Table of Contents Introduction ……………………………………………………………. Page - 1 Overview of the Qatar Sovereign Wealth Funds ………………... Page - 2 o Qatar Investment Authority o Qatar Sports Investment o Aspire Zone Foundation o Qatar Luxury Group o Mayhoola for Investments o Qatar Foundation o Qatar Armed Forces Investments o Private Investments by Senior Al Thani’s o Companies Owned by other Al Thani’s Significant Entities Used for Investments ………………………... Page - 13 o Qatar Holdings o Qatar Investments o Qatari Diar o Katara Hospitality o Qatar Petroleum International o Hassad Food o Qatar Mining Company o Nebras Power o Masraf Al Rayyan o Qatar National Bank o Other Significant International Entities Used by QIA o Remaining QIA Assets Investment Strategy and Outlook ………………………………….. Page – 33 o Local Investment Approach o Global Investment Strategy o Alternative Investments o Outlook on Potential Strategy Asset Database ………………………………………………………... Page - 39 o Methodology for Data Collection o Limitations o Complete Data Listing ©2016 SAMPLE Page | i Special Topic Series Qatar Sovereign Wealth Fund Assets Guide to Qatar Sovereign Wealth Fund Assets Introduction This guide is designed to provide both a register and overview of the strategic investments held by the State of Qatar’s Sovereign Wealth Fund (Qatar Investment Authority – QIA) as well as other investment vehicles associated with the Qatari Government. Similar to other Sovereign Wealth Funds (SWF) around the world the specific details and investment strategies of the QIA are not published or made available outside a tight circle of officials. This situation makes the tracking and monitoring of all their investments difficult. When this is also coupled with the vast array of investment vehicles used in the transactions, securing a complete register of all the different holdings is nearly impossible. The situation is so complex that even most employees of the QIA are not familiar with all the assets under their ownership / management. Important Note The database of assets contained in this guide comprises over 460 different entries, and is regularly updated. It should be noted that where information cannot be verified or is not available the relevant box in the various tables is marked with “-”. All financial information provided is based upon exchange rate conversions at the time of investment and year identified is that of the deal closing. The % of holding is only an approximate assessment of the stake at the time of investment and will vary over time. It should also be noted that some of the corporate entities used in the transactions may have been closed, but for clarity purposes, they remain in the register because in some cases the companies are simply dormant. Based upon extensive research and using multiple information sources, the data contained in this guide is one of the few and probably the most comprehensive consolidated asset register related to the QIA available. This guide also provides an overview of the various major entities used for the different acquisitions, along with an explanation of their inter- relationship. ©2016 SAMPLE Page | 1 Special Topic Series Qatar Sovereign Wealth Fund Assets Overview of the Qatar Sovereign Wealth Funds At the outset, it is important to understand that whilst the QIA is the designated SWF for the State of Qatar, it is not the sole investment vehicle. Unlike other countries, the division between state, private individuals and corporate entities is very unclear. In practical terms the senior members of the ruling Al Thani family have access to State funds as well as private income when carrying out investments. The result means that certain assets acquired by an individual may in fact be classified as a State asset in other parts of the world. Equally, many of the senior members of the Al Thani family have their own SWF vehicles, which are used for acquisitions, again with the result that the ultimate asset owned may more correctly be classified as being a State asset. Since the Al Thani family are an absolute monarchy and have ultimate control over the operation of all aspects of the country and government, the delineation between what constitutes personal and public funding becomes less relevant. The principle players in the investment matrix of Qatar are identified in the linkage tree below with the major investment vehicles identified in red. As the Emir, Sheikh Tamim is also in direct control of the QIA and Qatar Armed Forces Investment Fund. Wife of Father Emir Father Emir Sheikha Moza bint Nasser Al Misnad Sheikh Hamad bin Khalifa Al Thani Qatar Foundation Supreme Universal Holding Qatar Luxury Group Mayhoola for Investments Former Prime Minister Sheikh Hamad bin Jassim Al Thani Challenger Emir Al Mirqab Capital Sheikh Tamim bin Hamad Al Thani Precision Capital Services Qatar Sports Investments Paramount Holdings Personal Representative of Emir Sheikh Jassim bin Hamad Al Thani Aspire Zone Foundation Aspire Katara Investments Qatar Investment Qatar Armed Forces Authority Investment Fund In order to try and keep the whole complex web as clear as possible all major investment vehicles are tracked in this guide and even the major asset purchases of the key individuals are identified (simply because the origin of the finances is unclear). It is important to keep in mind that the Al Thani family comprises multiple strands and hundreds of individuals, each with their own investment interests and companies. ©2016 SAMPLE Page | 2 Special Topic Series Qatar Sovereign Wealth Fund Assets Asset Country Year of Purchase Vehicle % Holding Transaction Market Name Invest. US$ Million Sector Hotel Gray d'Albion France 2008 QIA 22.70% - Hospitality Hotel Hyatt Casares Malaga Spain 2008 Katara Hospitality 100% - Hospitality Hotel Majestic France 2008 QIA 22.70% - Hospitality Hotel Martinz (Grand Hyatt Cannes) France 2013 Constellation Hotel Holding 100% 200.000 Hospitality Hotel Novotel Edinburgh Park UK 2015 Qatar Airways 100% - Hospitality Hotel Schweizerhof-Bern Switzerland 2009 Katara Hospitality 100% - Hospitality Hotel W Spain 2013 Qatari Diar 100% 200.000 Hospitality HSBC HQ Building Canary Wharf UK 2014 QIA 100% 1,650.000 Property Iberdrola Spain 2011 QIA 6.16% 2,800.000 Energy Imagination Technology Group UK - QIA - - Telecommunications Immobiliaria Colonial SA Spain 2015 Qatar Holdings - - Developer Inalca Italy 2014 IQ Made in Italy 28.40% 205.000 Agriculture Industrial & Commercial Bank of China China 2006 QIA 0.05% 206.000 Banking Industries Qatar Qatar - Qatar Investments - - Investment Firm INQ Holding Qatar 2014 QIA 100% - Investment Firm Insinger de Beaufort Netherlands 2016 KBL Private Banking 100% - Banking Instow Ltd. UK 2007 QIA 100% - Investment Firm Intercontinental Amstel Amsterdam Holland - Katara Hospitality 100% - Hospitality Intercontinental Barclay Hotel New York USA 2013 Constellation Hotel Holding 80% 240.000 Property Intercontinental Carlton Cannes France - Katara Hospitality 100% - Hospitality Intercontinental De La Ville Rome Italy - Katara Hospitality 100% - Hospitality Intercontinental Frankfurt Germany - Katara Hospitality 100% - Hospitality ©2016 SAMPLE Page | 3 Special Topic Series Qatar Sovereign Wealth Fund Assets Feedback / Support All comments and suggestions related to this guide are welcomed. If there are any questions on anything contained in this guide or if training would like to be arranged please do not hesitate to contact us by email at [email protected]. Other Practical Guides Available The following are the other Guides available from Plateau Group, check out the website for more details. Combined Guides Complete Practical Guide to Commercial Management Practical Guide to Pre-Contract Commercial Management Practical Guide to Post Contract Commercial Management Practical Guide to Estimating and Measurement Practical Guide to the Construction Tender Process Practical Guide to Risk Mitigation and Effective Value Engineering Commercial Management Series Measurement & Quantification Estimating Tender Documentation Tendering & Reporting Contract Administration – Valuations Contract Administration – Cost Reporting, Variations & Final Accounts Developer, Investor, Advisor Series Project Monitoring Performing Effective Value Engineering Mitigating Risks in Construction Special Topic Series Qatar Sovereign Wealth Fund Assets ©2016 SAMPLE Page | 4 Copyright All rights reserved. No part of this guide may be reproduced in any form without the prior permission of the author. © 2016 Price : US$99.99 www.plateaugroup.org SAMPLE .
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