Qatar Investment Authority $622 million acquisition of stake in Empire State Realty Trust

Overview:

• The Qatar Investment Authority (QIA) has acquired around a 10% stake in Empire State Realty Trust (ESRT) for $622 million as it looks to diversify the geography of its investments.  
• QIA, Qatar's sovereign wealth fund, made the investment through a private placement where it subscribed to 29.6 million newly issued Class A common shares at $21 each. 
• ESRT is a REIT trading on the NYSE, which holds property in New York, including the Empire State Building.
• White & Case (Oliver Brahmst, David Johansen, John Lillis, Andrew Kreisberg, Michiel Visser) represented QIA.

Ben Naylor - EMEA Editor