DUBAI, United Arab Emirates (AP) -- Qatar's sovereign wealth fund has obtained a 5.2 percent stake in high-end jeweler Tiffany & Co.
The New York-based luxury retailer said in a regulatory filing earlier this year that Qatar Holding bought nearly 6.6 million shares, worth about $437 million at current prices. The investment became known when the Financial Times reported on it late Thursday.
Qatar Holding is the main investment arm of the natural gas-rich Qatar Investment Authority wealth fund. The fund declined to comment on the stake Friday.
Up to now the small Arab Gulf state has mostly focused its investments in Europe, where its holdings include London's Harrods department store and a stake in French luxury conglomerate LVMH Moet Hennessy Louis Vuitton.
