The Qatar Investment Authority (QIA) is planning to invest $35 billion in the United States over the next five years to diversify its investment portfolio, Qatar's wealth fund said in a statement on Monday.

 

QIA, which has about $334 billion of assets, has opened an office in New York to "better access new and existing investment partners," the fund added.

 

The Doha-based fund also renewed vows to maintain investments in Europe, Asia and the Middle East.

 

According to the Sovereign Wealth Fund Institute, the QIA has around $256 billion of assets under management.

 

Qatar’s ambassador to Washington, D.C., Mohammed Al Kuwari tweeted that Qatar targets investment in various US sectors creating many American jobs.

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