A state-backed Qatari institution has signed a $250m co-investment agreement with Barclays' in-house private equity team in what is expected to be the first of a number of strategic partnerships announced by the emirate this year as it looks to become a regional asset management hub.

The Qatar Asset Management Company has reached an agreement to partner with Barclays Natural Resource Investments - the Barclays in-house private equity team which predominantly backs energy and infrastructure businesses - with the former committing $250m.