Feb 12 Qatar's sovereign wealth fund, which was
already the single largest shareholder in Tiffany & Co,
has raised its stake in the U.S. luxury jeweler by one
percentage point, according to a regulatory filing.
The fund, the Qatar Investment Authority (QIA), increased
its holding in Tiffany at the end of December, bringing its
stake to 8.7 percent, according to the filing made on Wednesday.
QIA first disclosed a stake in Tiffany, of 5.2 percent, last
April. The sovereign wealth fund has been looking increasingly
to buy minority equity stakes in large companies since last
year. It has taken small stakes in companies such as Royal Dutch
Shell, luxury conglomerate LVMH and oil company Total
It amassed a near 12 percent stake in London miner Xstrata
in a series of market purchases last year and demanded
better terms on the miner's planned merger with Glencore
in a rare move for a sovereign fund.
The fund, believed to have assets in excess of $100 billion,
has been the most active of the region's sovereign wealth funds
in recent years, deploying the Gulf nation's plentiful natural
gas riches in assets ranging from German sports car maker
Porsche to British bank Barclays.
Tiffany shares were up 0.4 percent to $63.32 on the New York
Stock Exchange. They have risen about 10 percent year-to-date.