Qatar wealth fund in US$622m Empire State deal

New York

QATAR Investment Authority, the sovereign wealth fund of the Middle Eastern country, bought a 9.9 per cent interest in Empire State Realty Trust, owner of New York's Empire State Building.

The fund purchased 29.6 million newly issued Class A common shares at US$21 each, and will have a 9.9 per cent economic and voting interest in the real estate investment trust. The acquisition translates into a new US$622 million investment in Empire State Realty, the company said on Tuesday.