Qatari financial services firm QNB Group and Russian money manager VTB Capital Investment Management partnered to attract foreign institutional investment into their respective countries, working together on debt, equity and real estate.
Following the signing of a memorandum of understanding on Thursday, the two companies will mutually carry out activities in investment management and advisory services in debt, equity and real estate markets, with the aim of attracting foreign capital into Qatar and Russia. They will jointly launch a selection of offerings aimed at institutional investors, starting with a Russia-Qatar strategy, a joint news release said.
"We strive to create the most attractive opportunities that (are) relevant to the needs of our clients, which includes the diversification of investments by geography, and we expect a fund which focuses on investments in the Qatari economy will be extremely popular," said Vladimir Potapov, CEO and senior vice president of VTB Capital Investment Management, in the news release.
"We also aim to use our expertise in the debt and equity capital and real estate markets in Russia to attract international financing for the development of our country's economy," Mr. Potapov added.
VTB Capital Investment Management has more than $50 billion in assets under management. QNB Group's total assets stood at $286 billion as of March 31. Its money management AUM was not available.
Spokesmen for each of the firms could not be reached to provide further details.