My recent post about CIC showcased how more SWFs – and institutional asset holders overall – are investing directly in specific businesses or partner up with them to launch products. And, as shown below, they do like financial services firms.

Qatar earlier this year co-invested $250 million into a natural resources PE fund with Barclays, but now the SWF is taking it a step further with Credit Suisse: the two firms are creating an asset management joint venture in 2013. As SWFs are trying to diversify their assets, it makes sense to go down the road of holistic partnerships, which provides greater mutual benefits, transparency and alignment of interests.

Qatar already is the second largest stakeholder in Credit Suisse, with 6%+, and with Qatar’s drive to make Doha a regional hub, the new venture – called Aventicum Capital Management – will focus on EM and frontier investments.

Aventicum will be run by Aladdin Hangari and Martin Keller, with Hashem Montasser, previously the asset management head of EFG Hermes, as CEO. Egypt’s EFG Hermes, of course, is creating another JV with Qatar, this one on the investment banking side with QInvest, who will hold 60% of the JV after investing $250 million.

Welcome to a whole new era of multi-convergence and strategic partnerships.

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(c) Enskat Associates 2012