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Qatar Fund Increases Stake in Tiffany & Co.

The fund has upped its luxury holdings, including what is now a 7.8 percent stake in the luxury retailer.

The Qatar Investment Authority has raised its investment stake in Tiffany & Co. to 7.8 percent from 5.2 percent, according to a regulatory filing Monday.

The filing with the Securities and Exchange Commission, a Schedule 13G, indicated that the aggregate amount of shares owned by the Qatar fund is slightly more than 9.9 million shares. The shares were transferred on Dec. 17 to Qatar Holding USA LLC, a wholly owned subsidiary of QIA, from Qatar Holding LLC, another wholly owned subsidiary of QIA.

Based in Doha, QIA is considered a sovereign wealth fund. It was founded by the State of Qatar in 2005 as an investment vehicle to diversify into asset classes beyond the state’s domestic positioning in natural resources. Qatar, an emirate, is ruled by the Al Thani family.

Other Qatar investments include Harrods Group, which Qatar Holdings took control of in 2010 for $2.22 billion; a 26 percent stake in British food retailer J. Sainsbury in 2010, and a 12.8 percent stake in French media group Lagardère SCA. It also has a 1.03 percent stake in LVMH Moët Hennessy Louis Vuitton.

Last month, Qatar Holding signed an agreement with Italy’s Fondo Strategico Italiano, the holding controlled by Cassa Depositi e Prestiti, or CDP, a joint-stock company under public control, to create a joint venture, IQ Made in Italy, which will invest in Italian brands across different sectors, including fashion and luxury.

Shares of Tiffany on Wednesday declined 2.8 percent to close at $56.70 in trading on the New York Stock Exchange, joining the broader group of retail stocks that slipped in trading due to the perceived disappointment in the holiday sales season.