Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Qatar revamps investment strategy after Kushner building bailout
Source: Reuters
WORLD NEWS FEBRUARY 11, 2019 / 4:43 AM / UPDATED 4 HOURS AGO
Qatar revamps investment strategy after Kushner building bailout
Dmitry Zhdannikov, Herbert Lash, Saeed Azhar
7 MIN READ
LONDON/NEW YORK/DUBAI (Reuters) - When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump’s son-in-law, eyebrows were raised in Doha.
Kushner, a senior White House adviser, was a close ally of Saudi Crown Prince Mohammed bin Salman - a key architect of a regional boycott against Qatar, which Riyadh accuses of sponsoring terrorism. Doha denies the charge.
Brookfield, a global property investor in which the Qatari government has placed investments, struck a deal last year that rescued the Kushner Companies’ 666 Fifth Avenue tower in Manhattan from financial straits.
The bailout, in which Doha played no part and first learned about in the media, has prompted a rethink of how the gas-rich kingdom invests money abroad via its giant sovereign wealth fund, two sources with knowledge of the matter told Reuters.
The country has decided that the Qatar Investment Authority (QIA) will aim to avoid putting money in funds or other investment vehicles it does not have full control over, according to the sources, who are familiar with the QIA’s strategy.
-snip-
Qatar revamps investment strategy after Kushner building bailout
Dmitry Zhdannikov, Herbert Lash, Saeed Azhar
7 MIN READ
LONDON/NEW YORK/DUBAI (Reuters) - When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump’s son-in-law, eyebrows were raised in Doha.
Kushner, a senior White House adviser, was a close ally of Saudi Crown Prince Mohammed bin Salman - a key architect of a regional boycott against Qatar, which Riyadh accuses of sponsoring terrorism. Doha denies the charge.
Brookfield, a global property investor in which the Qatari government has placed investments, struck a deal last year that rescued the Kushner Companies’ 666 Fifth Avenue tower in Manhattan from financial straits.
The bailout, in which Doha played no part and first learned about in the media, has prompted a rethink of how the gas-rich kingdom invests money abroad via its giant sovereign wealth fund, two sources with knowledge of the matter told Reuters.
The country has decided that the Qatar Investment Authority (QIA) will aim to avoid putting money in funds or other investment vehicles it does not have full control over, according to the sources, who are familiar with the QIA’s strategy.
-snip-
Read more: https://www.reuters.com/article/us-qatar-fund-kushner-insight/qatar-revamps-investment-strategy-after-kushner-building-bailout-idUSKCN1Q00W3
