HONG KONG — Qatar Investment Authority agreed to pay about HK$4.78 billion ($616 million) for a stake in a Hong Kong department store operator as the sovereign wealth fund diversifies its global portfolio.

QIA, the owner of the Harrods department store in London, agreed to buy 20 percent of Lifestyle International Holdings Ltd. for HK$14.75 a share, according to a statement from the Hong Kong-listed company. Lifestyle shares fell as much as 7.3 percent to HK$13.54 in the city as they resumed trading today after being halted on Sept. 24.

The deal adds to QIA's investments this year including an European e-commerce company and global business travel through a joint venture with American Express Co. Lifestyle runs a SOGO shopping mall in Hong Kong and four in China.

“QIA’s investment in Lifestyle International Holdings diversifies its retail & consumer portfolio by complementing existing investments in Harrods, Tiffany & Co. and others,” QIA said in an e-mailed statement today.

QIA bought the stake from Lifestyle’s largest shareholder Real Reward Ltd., 50 percent owned by Chow Tai Fook Enterprises Ltd., which is controlled by Hong Kong billionaire Cheng Yu- tung. Real Reward will remain the Hong Kong company’s biggest shareholder with a 32.3 percent stake after the deal, with QIA becoming the second-largest, according to the statement.

QIA, which has investments in banks including Barclays Plc and Credit Suisse Group AG, will have a non-executive director on the board of Lifestyle as part of the agreement, which will be completed in two days, Lifestyle said.

Lifestyle reported sales rose 0.9 percent to HK$2.88 billion, with net income down 7 percent to HK$1 billion, in the first half ending June. A slowing Chinese economy and weak consumer sentiment weighed on first-half results, it said.

JPMorgan Chase & Co. advised Chow Tai Fook on the sale to QIA.

By Stephanie Wong, with assistance from Jonathan Browning; editors: Stephanie Wong, Terje Langeland.