Qatar’s sovereign wealth fund could invest up to $25 billion with Goldman Sachs’ asset management arm as part of an agreement that will also see the US bank expand its Doha presence. The deal will give the $580 billion Qatar Investment Authority “premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure, and private credit,” QIA Chief Executive Mohammed Al Sowaidi said in a statement.
Goldman said its Doha office will become its “largest regional office for asset management,” and it will also advise on the “development of Qatar’s economy and capital markets.”
The deal is the latest sign of how Gulf sovereign funds are using their financial heft to encourage partners to create jobs in the region and attract investment. The QIA is expected to ramp up investment activity as Qatar’s expanding gas exports lead to a cash windfall. During US President Donald Trump’s visit to the Gulf last year, the fund said it would invest about $500 billion in the US over the next decade.