According to Bloomberg, Qatar's Sovereign Wealth to acquire 5% of Monumental Sports & Entertainment, the company that manages the Washington Wizards, the WNBA's Washington Mystics and the NHL's Washington Capitals, for $4 billion!
The deal isn't official yet. NBA spokesman Mike Bass revealed that the league's board of directors had already moved in November: "We want to allow passive, non-aggressive investment in NBA franchises by institutional investors.
This includes university endowments, foreign or local pension funds, and sovereign wealth funds. We are currently reviewing potential investment in Monumental Sports & Entertainment. If approved, the Qatari Fund shall own a small percentage of the franchise and shall have no involvement in its operations or decisions."
About the Qatar Investment Authority
The Qatar Investment Authority is one of the world's largest leveraged buyout operators and holds stakes in international companies including Airbus Group (6.65%), London Stock Exchange (15.1%), Volkswagen (17%), Lagardère (12 .83%), Paris Saint-Germain Football Club (100%), Virgin Megastore, HSBC, Credit Suisse (5.20%) and Veolia Environnement.
Founded in 2005 by the Qatari government to manage the sale of oil and natural gas, which is overabundant at home, the Qatar Investment Authority invests mainly in national and international markets (United States, Europe and Asia-Pacific) outside the energy sector.
In October 2008 he brings his stake in Barclays to 12.7%, enters Fisker Automotive, acquires 17% of the capital of the Volkswagen group, 10% of Lagardére. And then it invests in Porsche, Hochtief and various French companies (from Air Liquide to Vivendi, from GDF Suez to France Telecom and Total) thanks also to a series of tax breaks (such as the exemptions from capital gains) obtained in February 2009 by the French government .
In 2013 he decided to invest 5 billion dollars over three years in petrochemical projects in Malaysia and 200 million dollars in residential buildings in India through the Kotak real estate fund. Also in 2013, with the arrival of a new emir in power, Ahmad Al Sayed was appointed president and managing director of the sovereign wealth fund to replace Hamad bin Jassim bin Jaber Al-Thani.
It is estimated that in June of that year assets under management amounted to approximately 100 billion dollars, of which 30 invested in Great Britain, 10 in France and 5 in Germany. In October 2014, Qatar Investment Authority signs an agreement with CITIC Group Corp to launch a $10 billion fund that will invest in China.
Al Sayed serves as chairman and chief executive officer of the sovereign wealth fund for 16 months. In January 2015, Sheikh Abdullah bin Mohamed bin Saud Al-Thani, chairman of the Qatar communications company Ooredoo, was appointed as the new CEO.
Khalifa Al-Kuwari is the current Chief Operating Officer. In September of the same year, the QIA announced its intention to invest 35 billion dollars in the United States over the next five years.