Qatar's sovereign wealth fund has given three dealmakers €600 million to source investments in southern Europe, as the world's state investment arms increasingly look to put money to work on private equity deals.

The Qatar Investment Authority has backed Ramon Arocena Soria, a former Advent International director, Nicola Colavito, a ex-MD at Barclays, and Carlos Cortina, formerly at Spanish electricity company Grupo Endesa, who have formed Peninsula Capital Advisors.