QIA and IPIC Team Up to Establish a 2-Billion Investment Fund

摘要

Qatar Investment Authority (QIA) and International Petroleum Investment Company (IPIC), an institution controlled by the state of Abu Dhabi, have entered into a partnership for the creation of a 2-billion fund whose mission is to make worldwide investments in companies in every sector, including oil and petrochemicals. "We will look at any opportunities where we can make money and add value," explained the Managing Director of IPIC, Mr. Khadem al-Qubaisi. "That could he anywhere - the Middle East, Asia, Africa, Europe and the United States." Each organization will initially contribute 1 billion to the fund, which is due to start operating in September. Those amounts could subsequently be increased.