Qatar fund quietly builds $1bn Bank of America stake - FT.com

Qatar fund quietly builds $1bn Bank of America stake - FT.com:

"Qatar’s sovereign wealth fund has quietly built a stake worth about $1bn in Bank of America, the country’s second-biggest bank, as it seeks exposure to the US economic recovery, people familiar with the plans said.
Qatar Holding, the direct investment arm of Qatar Investment Authority, started to buy BofA shares about two years ago but bought more as the bank’s share price fell to $7-$8 last year, a person close to the fund said. The stock is now trading above $14.
Gulf sovereign wealth funds invested tens of billions of dollars in some of the world’s biggest banks at the height of the financial crisis. Five years later, however, some of those investments have performed poorly while others have been scrutinised for the way in which they were structured."

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