As part of its strategy to focus asset management operations through Epicure Islamic Investment Management LLC (EIIM), QInvest today announces changes to its operations in Turkey.
QInvest has:
- Successfully completed the sale of QInvest Portfoy, its asset management operation in Turkey. The sale contributes positively to business outcomes.
- Closed its Turkish office and transferred the local investment banking team and its activities to Doha.
These announcements are part of QInvest’s ongoing strategy to support EIIM in its home market of Qatar.
Epicure Islamic Investment Management LLC (EIIM) was established in 2022 as a joint venture between QInvest and Epicure Investment Management LLC (EIM), a wholly owned subsidiary of Qatar Insurance Company (QIC) and one of the largest regulated investment managers in Qatar. EIIM is a Sharia’a compliant entity, authorised and regulated by Qatar Financial Centre Regulatory Authority (QFCRA). It provides a wide range of Islamic asset management activities, ranging from investing to developing and structuring innovative Islamic investment products.
QInvest was founded in 2007, and since 2016 has invested in and built a successful operation in Turkey focusing on asset management and investment banking. QInvest Portfoy is one of the leading asset management companies in Turkey and was previously a 100% subsidiary of QInvest.
QInvest Portfoy will continue to be known by this name for the next three years and will benefit from the continued support of QInvest during this time.
QInvest will retain its ability to advise and support clients in Turkey from its office in Doha. The local Investment Banking team, which was previously based in Turkey, has relocated to Doha on a permanent basis.
As Qatar’s economy continues to grow at pace, QInvest’s regional investment strategy has been developed to provide opportunities to domestic and international partners.
The decision has been communicated to all investors, clients and partners in the Turkish market, who will continue to experience QInvest’s high standards of service. All other operations continue as normal.
REACTIVE MEDIA STATEMENT
QInvest LLC (QInvest), Qatar's leading investment group and one of the world’s most prominent Islamic financial institutions, has announced changes to its operations in Turkey.
QInvest has:
- Successfully completed the sale of QInvest Portfoy, its asset management operation in Turkey. The sale contributes positively to business outcomes.
- Closed its Turkish office and transferred the local investment banking team and its activities to Doha.
A spokesperson for QInvest said:
“QInvest is entering the next phase of its strategy to focus asset management operations through Epicure Islamic Investment Management LLC (EIIM), our joint venture with Epicure Investment Management LLC.
“Turkey presents many exciting opportunities for international investors. We remain dedicated to providing services in Turkey, as we have done for the past nine years – and will continue to be a bridge between Qatar and Turkey, providing exciting opportunities for clients.
“As Qatar’s economy continues to grow at pace, our regional investment strategy has been developed to provide opportunities to domestic and international partners, focusing on the Middle East and GCC.
“We would certainly consider future investment opportunities in Turkey, in keeping with our position as a trusted investment bank, co-investor and partner for international partners and transactions.”