QIA backs Lesha Bank fund, its first local manager under active initiative
What's the deal? The Qatar Investment Authority (QIA) has invested in the Lesha Qatar Opportunities Fund, a Shari'a-compliant public equity fund run by Doha-based Lesha BankDealroom has a profile for this one. Try Dealroom →. The fund invests in a diversified portfolio of shares from the QE Al Rayan Islamic Index and QE All Share Index.
Why now? The move extends QIA's Active Asset Management Initiative, launched in 2024 to partner with global and local managers with Gulf Cooperation Council (GCC) expertise. Under the initiative, QIA seeds partner funds by re-allocating shares in companies listed on the Qatar Stock ExchangeDealroom has a profile for this one. Try Dealroom →.
Who's involved? Lesha Bank, founded in 2008, is the first independent Shari'a-compliant investment bank authorised by the Qatar Financial Center Regulatory Authority (QFCRA) and is listed on the Qatar Stock Exchange. It manages about QAR 15 billion in assets and offers alternative investments, asset management, and advisory services.
What's the endgame? Lesha Bank is the first local asset manager to join the initiative and its fourth partner overall, following funds run with Franklin TempletonDealroom has a profile for this one. Try Dealroom →, AshmoreDealroom has a profile for this one. Try Dealroom →, and Fiera CapitalDealroom has a profile for this one. Try Dealroom →. The bank aims to become a global leader in Shari'a-compliant investment banking and grow its asset base.
Mohammed Saif Al-Sowaidi, chief executive officer of QIA, said the deal reflects the fund's "commitment to supporting the development of Qatar's financial sector and broadening opportunities for local asset managers."
Mohammed Ismail Al Emadi, group chief executive officer of Lesha Bank, called the investment "a powerful endorsement of our investment philosophy and capabilities," adding that the initiative is "designed to boost economic growth and enhance liquidity on the Qatar Stock Exchange."
The signal: By seeding a local manager for the first time, QIA is signalling a push to deepen Qatar's capital markets and cultivate homegrown asset managers alongside its established global partners.
Read more: Qatar Investment Authority (QIA)
Image credit: Generated with Gemini
