Key insights
- Brookfield Asset Management plans to open an office in Doha, Qatar, expanding its Middle East operations. The office will focus on its global credit platform and builds on a partnership with Qatar Investment Authority (QIA) to invest $20 billion in AI infrastructure. This expansion occurs despite regional conflict impacting Qatar's energy sector, highlighting continued international investment interest in Gulf sovereign wealth funds.
Investing.com -- BROOKFIELD ASSET MANAGEMENT LTD Class A (NYSE:BAM) plans to open an office in Doha, Qatar, expanding its Middle East presence despite economic disruptions caused by the ongoing regional conflict.
The new office will be anchored by Brookfield’s global credit platform, including Oaktree Capital Management, the company said in a statement Sunday.
The expansion builds on Brookfield’s existing partnership with Qai, an artificial intelligence company owned by the Qatar Investment Authority (QIA), to invest $20 billion in AI infrastructure across Qatar and international markets.
Brookfield currently manages approximately $20 billion in assets across private equity, real estate, credit and infrastructure throughout the six Gulf Cooperation Council countries.
Jad Ellawn, Brookfield’s managing partner and regional head of the Middle East, described the Doha office as a natural extension of the firm’s regional expansion strategy.
The move comes as international investment managers deepen their relationships with Gulf sovereign wealth funds, which collectively oversee trillions of dollars in assets.
Private equity firms including Advent International, Eurazeo and EQT have recently established offices in Abu Dhabi, while Robinhood Markets Inc (NASDAQ:HOOD) plans to launch its retail investment platform from Dubai next year.
BlackRock Inc (NYSE:BLK) Global Infrastructure Partners has also established a presence in Doha as Qatar’s sovereign wealth fund pursues major international investments.
However, Qatar’s economy faces significant pressure from the regional conflict.
An Iranian attack on the Ras Laffan energy complex in March damaged approximately 17% of the country’s liquefied natural gas export capacity, with estimated losses reaching $20 billion.
Repairs could take at least three years, while LNG shipments remain below prewar levels amid shipping disruptions in the Strait of Hormuz.
Despite these challenges, QIA continues pursuing major international partnerships.
In September, the sovereign wealth fund announced plans for a $20 billion partnership with JPMorgan Chase & Co (NYSE:JPM), following a similar agreement with Goldman Sachs Group Inc (NYSE:GS).
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