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Qatar strengthens Barclays ties with £153m natural resources investment

30 Apr 2012

Qatar’s sovereign wealth arm has signed a £153m co-investment deal with Barclays Natural Resources Investments (BNRI) in a move which strengthens the existing relationship between the partners.

Qatar already owns a 6.8 per cent stake in the British multinational bank, making it one of the lender’s top three shareholders.

The new investment in BNRI’s portfolio company will be made through the Qatar Asset Management Company, which is a joint venture between the sovereign wealth fund and the Qatar Financial Centre.

Qatar has been actively pursuing a policy of diversifying investments made using its vast oil wealth, recently taking stakes in sectors including luxury hotels, mining and top-flight football.

Although largely oil and gas-focused BNRI looks to make deals on a global basis, with its two most recent deals involving central Asia’s Hyrcanium and Colombia’s Petro-Granada.

Since the beginning of 2011 it has also invested in US-based power company K Road Power and Africa-focused metals and mining business Imalivest.

The asset manager has about $2.1bn of capital committed to 22 portfolio companies and management teams.

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