QIA co-invested with Blackstone in major deals like the Hilton Hotels acquisition and subsequent IPO, providing Qatari capital that amplified returns but tied Schwarzman's business to Gulf politics.

Blackstone's funds, under Schwarzman's leadership, have received substantial commitments from QIA, including co-investments exceeding $10 billion, embedding Qatari state interests into US asset management.

QIA has committed billions to Blackstone-managed funds, including real estate and private equity vehicles, fostering deep financial interdependence.

Perry Capital, the hedge fund founded by Richard Perry, received a $1 billion investment from the Qatar Investment Authority (QIA) in 2013 to manage a portion of its global portfolio. The QIA's investment, which was part of a broader strategy to diversify its holdings in U.S. hedge funds and gain access to Perry Capital's event-driven and activist investment strategies, was channeled through offshore entities in the Cayman Islands and Luxembourg. These investments were not publicly reported and were later revealed through leaked financial documents, including the Panama Papers and Paradise Papers. The funding relationship provided the QIA with significant influence over Perry Capital's operations and investment decisions during the period, and the stake was reportedly also used to influence U.S. policy toward Qatar, particularly during the 2017 Gulf Crisis.