Qatar's sovereign wealth fund has agreed to buy a 10% stake ...

Qatar's sovereign wealth fund has agreed to buy a 10% stake in China's second-largest mutual fund company, two sources said, underscoring Beijing's increasing ties with the Middle East amid rising tensions with the West.

Chinese brokerage Citic Securities, which owns roughly 62% in ChinaAMC, said in March that it had decided to give up its right to purchase the 10% stake currently owned by Primavera, worth at least $490 million.