Qatar Investment Authority and Goldman Sachs Sign MoU to Expand Strategic Partnership with $25bn Investment Target

DOHA, 20 January 2026 - Qatar Investment Authority ("QIA") and Goldman Sachs Asset Management ("Goldman Sachs") today announced the signing of a Memorandum of Understanding ("MoU") to expand their strategic partnership.

QIA will target committing a combined total of $25 billion to funds managed by Goldman Sachs Asset Management and co-investment opportunities. QIA will partner with Goldman Sachs Asset Management on a range of existing and new private market strategies, as well as direct investment opportunities.

"QIA is pleased to partner with Goldman Sachs in this landmark agreement, which sees two institutions with aligned investment goals joining together to gain enhanced access to world-class investment opportunities for the years to come. This agreement builds on our longstanding relationship with Goldman Sachs and provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit," said Mohammed Saif Al-Sowaidi, CEO of QIA.

"Importantly, this partnership extends beyond capital deployment. By committing to expand its presence in Doha as a key strategic hub for asset management, Goldman Sachs is reinforcing Doha's position as a regional financial center. This commitment will deliver meaningful benefits to our economy through knowledge-transfer, job-creation and enhanced expertise in alternative investments. We look forward to working with the Goldman Sachs team to source and execute transformational investments that generate strong risk-adjusted returns for Qatar's future generations."

"Qatar is on an exciting path of economic diversification, including the expansion of its impressive ecosystem of national champions, the development of its capital markets and the growth of its talent base," said David Solomon, Chairman and Chief Executive Officer of Goldman Sachs. "This creates substantial opportunity to widen the state's impact, global connectivity, and attractiveness as a multi-faceted investment partner."

The expanded partnership will see QIA commit as an anchor investor in several of Goldman Sachs' flagship and innovative strategies and will enhance cooperation between Goldman Sachs and the State of Qatar on numerous levels, including:

• Goldman Sachs will meaningfully grow its headcount in Doha, with the office becoming a strategic hub and the largest regional office for asset management. The expanded footprint will provide further resources to Qatari clients and support global clients in accessing economic opportunities across the wider region.
  
  
• The firm and its Value Accelerator network will provide resources to the State of Qatar to help achieve national development objectives, benefiting the broader financial ecosystem and fostering connectivity with regional and global partners.
  
  
• Goldman Sachs will look to provide strategic advisory services and guidance on capital formation, M&A opportunities and the development of Qatar's economy and capital markets, including by encouraging foreign direct investment opportunities and supporting the growth of key Qatari companies.
  
  
• Goldman Sachs will draw on its global network and convening power to work with the State of Qatar on fostering increased dialogue and partnership between Gulf Cooperation Council countries and global partners, including Asia-Pacific countries.
  

Goldman Sachs is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. Its centralized Value Accelerator platform of experienced operating advisors partners with portfolio companies to help build enduring businesses.

Together, QIA and Goldman Sachs will seek to explore several other avenues to enhance their cooperation to the benefit of both parties and their stakeholders. The agreement remains subject to certain terms, conditions and deliverables.

About QIA
Qatar Investment Authority ("QIA") is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among thelargest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions aroundthe world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $3.6 trillion in assets under supervision as of December 31, 2025. Follow us on LinkedIn.

Media Contacts:

QIA
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Goldman Sachs
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