Qatar buys stake in Chinese investment company

on 23/08/2012 08:45:07

A state-owned Chinese investment company has sold a 22.2% stake to an arm of Qatar's sovereign wealth fund.

Citic Capital Holdings Ltd's deal with Qatar Holding LLC expands Beijing's financial ties with Middle Eastern economies.

Citic Capital chief executive Yichen Zhang said the company hopes the relationship with Qatar Holding will expand its investment opportunities abroad.

Citic Capital is owned by China's sovereign wealth fund, China Investment Corp, and two units of Citic Group, the Chinese Cabinet's main investment arm.

It manages $4.4bn (€3.5bn) in assets in real estate, private equity and finance.