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Mon Feb 11, 2019, 10:01 AM

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.

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Read more: https://www.reuters.com/article/us-qatar-fund-kushner-insight/qatar-revamps-investment-strategy-after-kushner-building-bailout-idUSKCN1Q00W3

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