Qatar doubles its stake in Credit Suisse. Thus Qatar Investment Authority is now the second largest shareholder of the Swiss bank.
QIA, Qatar’s sovereign wealth fund, began investing in Credit Suisse at the time of the financial crisis. He now owns 6.8% of the bank’s shares, second only to the 9.9% stake bought by Saudi National Bank last year as part of a $4.2 billion capital raise to fund a massive strategic overhaul . With 3.15% owned by Saudi family firm Olayan Financing Company, about a fifth of the company’s shares are now owned by Middle Eastern investors, according to data from Eikon.
The investment injection from the Middle East comes as major US investors Harris Associates and Artisan Partners sell their Credit Suisse shares. Harris remains the third-largest shareholder with 5%, but he has significantly reduced his stake over the past year, while Artisan has sold his position entirely.