The sovereign wealth fund’s diverse reach is highlighted by its recent TechMet investment and significant holdings from the world’s largest sovereign fund, the Norway Government Pension Fund Global.

The assets of the Qatar Investment Authority (QIA) have increased to $526 billion since the start of 2024, marking a $97 billion or 22.6%, rise since the beginning of the year. Al Araby Al Jadeed has reported citing figures released by the Sovereign Wealth Fund Institute and published by CNBC Arabia.

The QIA is one of the largest sovereign wealth funds globally, with the U.S. based Sovereign Wealth Fund Institute ranking it eighth in terms of assets.

The Qatari national wealth fund’s outreach is diverse both sectorially and geographically.

Earlier this month, the QIA pledged an initial investment commitment of $180 million to the Dublin-based TechMet metal mining company. This is set to make the Qatari sovereign wealth fund one of TechMet’s largest investors.

Qatar’s investment edged the company’s valuation to currently stand at over $1 billion.

Also in August, Al Araby reported that the world’s largest sovereign wealth fund, the Norway Government Pension Fund Global, with assets totalling $1.76 trillion, has investments in the QIA.

Norway’s heftiest investment in Qatar is with Qatar National Bank (QNB) at $439 million, which is an estimated stake of 1.18%.

QNB, which is backed by the QIA, has a presence across 28 countries in Asia, Africa and Europe. The bank’s reported profits are $4.3 billion and its assets total $338.2 billion.

The Norwegian fund also has $152 million worth of investment in Industries Qatar, and approximately $115 million in the Qatar Gas Transport Company Limited, otherwise known as Nakilat.

The first half of 2024 has marked a 7% net profit for Nakilat, with the company reporting profits reaching QR 829.145 million (approximately $227.74 million).

This financial performance was owed to initiatives such as entering long-term contracts with QatarEnergy to charter and operate nine QC-Max LNG carriers, each with a capacity of 271,000 cubic metres.

Nakilat also reported a 4% decrease in its total expenses.