Doha: Qatar Investment Authority (QIA) and Goldman Sachs Asset Management have signed a Memorandum of Understanding (MoU) to expand their strategic partnership with a targeted investment commitment of $25 billion. The collaboration aims to enhance investment opportunities and strengthen the financial ecosystem in Doha.

According to Qatar News Agency, QIA plans to invest a combined total of $25 billion in funds managed by Goldman Sachs Asset Management and explore co-investment opportunities. The agreement is set to bolster both existing business strengths and new growth areas, as well as provide direct investment opportunities.

Mohammed Saif Al Sowaidi, CEO of QIA, expressed enthusiasm for the partnership, highlighting the potential for gaining access to world-class investment opportunities in sectors critical to QIA’s investment strategy, such as AI, fintech, digital infrastructure, and private credit. He emphasized the partnership’s role in reinforcing Doha as a regional financial center through knowledge-transfer, job creation, and expertise enhancement.

David Solomon, Chairman and CEO of Goldman Sachs, remarked on Qatar’s economic diversification journey and the substantial opportunities it presents for global connectivity and investment partnerships. He noted that the expanded partnership would see QIA commit as an anchor investor in several of Goldman Sachs’ flagship strategies.

The agreement will also facilitate the growth of Goldman Sachs’ presence in Doha, positioning the city as a strategic hub for asset management. This expansion will enhance resources available to Qatari and global clients, supporting economic opportunities across the region. Additionally, the partnership aims to foster dialogue and collaboration between Gulf Cooperation Council countries and global partners.

Goldman Sachs, a leading investor in alternatives with over $625 billion in assets, plans to leverage its global network to provide strategic advisory services to Qatar, focusing on capital formation, mergers and acquisitions, and economic development. The collaboration is expected to support the growth of key Qatari companies and attract foreign direct investment.

The agreement between QIA and Goldman Sachs will explore various avenues for cooperation to benefit both parties and their stakeholders, subject to certain terms and conditions.