Qatar Holding, the Gulf state’s sovereign wealth fund, has acquired a 5 per cent stake in the Brazilian unit of Spanish lender Banco Santander for $2.7bn, Reuters has reported. According to the deal, the bank will issue bonds to Qatar Holding that are convertible into old or new shares in Banco Santander Brasil after three years. Qatar Holding also owns stakes in Agricultural Bank of China, Barclays and Credit Suisse.