JPMorgan and Qatar Investment Authority eye $20 billion partnership

Qatar Investment Authority and JPMorgan Asset Management signed a memorandum of understanding on Monday, Sept. 21, 2026, to launch a $20 billion strategic partnership across public and private markets in equities and credit. Under the preliminary agreement, JPMorgan will manage customized global equity portfolios for QIA worth $15 billion, and a $5 billion private markets initiative will provide senior financing to established U.S. middle-market companies in industrials, services, healthcare and technology. QIA CEO Mohammed Saif Al-Sowaidi said the collaboration "will play an important role in unlocking new opportunities for both firms to generate long-term value." QIA has estimated assets under management of $580 billion and has long focused on building wealth overseas. Qatar is facing financial strain due to the Iran war, which has made it impossible for it to reliably export liquefied natural gas, its primary income source, and has been seeking to diversify its economy by expanding its financial sector. Qatar's prime minister on Sunday announced a new QIA division dedicated to domestic investments. In January, QIA signed a deal expanding its partnership with Goldman Sachs targeting $25 billion in investments. JPMorgan shares were last at $349.67, up 0.10%, with a market cap of $929.49 billion.