QFCA and UBS Join Forces to Collaborate on Sustainable Private Markets Initiative

The Qatar Financial Center Authority (QFCA), the legal and tax arm of the QFC, and UBS Asset Management are soon establishing a green and sustainable private market initiative with an initial seed capital of $500 million.

In this regard, the two parties have signed a Letter of Intent (LoI), which envisages investing in the energy storage, eco-transport, food security and venture capital sectors in environmentally sustainable technologies.
Through this, both parties intend to develop a common vision with the aim of making Qatar a center for environmentally sustainable investments, further developing an important sector within the country’s financial ecosystem.
Under the terms of the letter of intent, the parties intend for the initiative to be incorporated and primarily managed from Qatar with an initial investment of up to $500 million in the first stage, increasing in later stages of development. by attracting additional investors, including banks, venture capitalists, pension funds, endowments and foundations, high net worth individuals and other approved investors.
“QFCA is delighted to sign this letter of intent with UBS Asset Management and is excited not only about the environmentally sustainable initiatives that will come from this strategic collaboration, but also because the ambition of the parties is that an agreed percentage of returns generated from the initiative be invested in the development and growth of the financial services ecosystem in Qatar, including by attracting other financial services companies to establish and operate from Qatar,” said Yousuf. Mohamed al-Jaida, general manager of QFCA.
Suni Harford, Chairman of Asset Management and UBS Group Board Head for Sustainability and Impact, said that as a leading global financial services provider, he has a central role to play in raising capital to support the orderly transition to a low-carbon economy. .
“We are thrilled to collaborate on this groundbreaking initiative, leveraging our innovative capabilities in sustainable investing and private markets to drive the expansion of this important sector in the region,” she said.