QFC Authority CEO Yusuf Mohamed Al Jaida and UBS Suni Harford President of Asset Management Sign Letter of Intent to Collaborate to Establish Green and Sustainable Private Market Initiatives Did.

Doha: Qatar Financial Centers Authority, the legal and tax arm of Qatar Financial Centers (“QFC”), the region’s leading onshore financial and business center, UBS Asset Management today announced that they have signed a Letter of Intent (“LOI”). ) aims to cooperate in establishing green and sustainable private market initiatives envisioned to invest in the venture capital sectors of energy storage, eco-transport, food security and environmentally sustainable technology. I’m doing it.

The Parties will develop a joint vision for the initiative with the aim of establishing Qatar as an environmentally sustainable investment hub and further developing key sectors within the country’s financial ecosystem.

Under the terms of the LOI, the parties intend that the Initiative will be incorporated into and managed primarily from Qatar, with an initial seed investment of up to $500 million in the first phase, and the following: increase in subsequent stages of development by attracting additional investors. Banks, venture capital firms, pension funds, endowments and foundations, high net worth individuals, and other consensual investors.

Commenting on the LOI, QFC Authority Chief Executive Officer Yousuf Mohammed Al Jaida said: The parties’ ambition is also that an agreed share of the revenues generated by the initiative will be used in Qatar’s financial services, including attracting other financial services companies to establish themselves in Qatar and operate from there. Because it is about investing in the development and growth of the ecosystem. Qatar country. ”

Suni Harford, President of Asset Management and Head of Sustainability and Impact on UBS Group’s Executive Board, said: carbon economy. We are delighted to be working with this groundbreaking initiative to leverage our innovative sustainable investment and private market capabilities to facilitate the expansion of this important sector in the region. ”

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