DUBAI, United Arab Emirates (AP) — The sovereign wealth fund of the energy-rich nation of Qatar says it is opening an office in New York and plans to invest $35 billion into the United States over the next five years.
The announcement Monday by the Qatar Investment Authority represents a major vote of confidence in the U.S., a key ally of the small Gulf Arab nation.
The fund and other Qatari government-linked investors have invested heavily in Europe in recent years, including prominent London properties, the British bank Barclays PLC and the Paris Saint-Germain soccer team.
The QIA's American holdings include a more than 10-percent stake in New York-based luxury jeweler Tiffany & Co.