LONDON (Reuters) - Qatar's Sovereign Wealth Fund said on Monday it would open an office in San Francisco to expand its growing U.S. portfolio, and was still considering investing in a technology fund formed by SoftBank Group Corp.
The Qatar Investment Authority, one of the most active of its kind, has stakes in everything from real estate to luxury goods - traditionally largely in Europe. But it has said it is looking to diversify into Asia and the United States.
"Soon we will be opening an office in the Silicon Valley in San Francisco," the fund's CEO, Sheikh Abdullah bin Mohammed bin Saud al-Thani, told reporters at an investment conference in London.
"What we plan is to open the office hopefully by the end of this year, if not by end of this year then it will be first quarter of next year. It will be linked very commercially to our office in New York and we will take it from there," he said.
Qatar was considering investing in a $100 billion global technology fund formed by SoftBank Group Corp, the Japanese telecommunications and internet company, and Saudi Arabia, Bloomberg reported in October.
"We are still in a study but we haven't made a decision yet," al-Thani said on Monday.
More From This Section
In 2015 Qatar said it would spend $35 billion in the United States over the next five years after opening an office in New York. In December the fund said it would invest $10 billion in infrastructure projects inside the United States.
The QIA has about $334 billion of assets according to industry tracker Sovereign Wealth Center.
(Reporting by Tom Finn, Kylie Maclellan and Claire Milhench; Editing by Andrew Heavens)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
