PARIS: France’s state-owned Caisse des Depots bank and the investment arm of Qatar’s sovereign fund yesterday announced the signing of an agreement to co-invest in small and medium French businesses.
The Caisse des Depots and Qatar Holding LLC will set up a ¤300m ($380m) fund to invest “in sectors with high growth potential and where both Qatar Holding LLC and Caisse des Depots have common interests,” a joint statement said.
France has proved attractive to Qatari investors who have bought Paris Saint-Germain football club and acquired three percent of energy giant Total as well as stakes in building firm Vinci and in media group Lagardere.
But the state had postponed launching a fund for entrepreneurs from France’s deprived suburbs until after the presidential election in May. The project has now been revived. Afp
