Azerbaijan Participated in the Establishment of the "Galaxy Orientis" China - ASEAN Investment Platform

The State Oil Fund of Azerbaijan (SOFAZ), China Investment Corporation, and the Indonesia Investment Authority have jointly established the "Galaxy Orientis" China–ASEAN Investment Platform ("CAIP" or the Program).

Referring to SOFAZ, the editorial reports that the said platform is a sovereign private equity platform aimed at realizing long-term investment opportunities between China and the ASEAN region.

Within the framework of the Program, approximately 520 million US dollars were raised in the initial phase, with a total target volume set at 1 billion US dollars.

The platform operates based on a joint management mechanism of three sovereign funds with the aim of promoting capital flows and strengthening industrial cooperation between China and the ASEAN region. Against the backdrop of deepening China-ASEAN trade relations and the reshaping of supply chains in Southeast Asia, the Program targets the evaluation of high-quality investment opportunities in sectors such as industry, healthcare, consumption, business services, and technology.

As the lead partner of the Program, "CGS International Securities Pte. Ltd.", a subsidiary of "China Galaxy Securities" responsible for international operations, supports the platform's activities with extensive regional experience, operational infrastructure, and existing networks in Southeast Asia.

Within the framework of the Program, funds will be directed to the funds of reputable private equity managers operating in the China-ASEAN direction, as well as to investment projects implemented in selected ASEAN countries. These investments cover areas such as the expansion of Chinese companies' operations in ASEAN markets or ASEAN companies benefiting from Chinese technology, supply chains, and human capital.

Zhang Qingsong, Chairman of the Board and CEO of China Investment Corporation, stated: "China Investment Corporation, together with our partners the Indonesia Investment Authority and SOFAZ, is implementing the 'Galaxy Orientis' China - ASEAN Investment Program based on our strong belief in the economic development prospects of the ASEAN region and the broad potential of China - ASEAN cooperation. We believe that by investing in high-quality companies focused on the ASEAN market, the Fund will not only achieve sustainable financial returns but also contribute to promoting economic development in the region. This initiative is also part of China Investment Corporation's continuous efforts to leverage its advantages as a Chinese sovereign wealth fund to jointly evaluate global investment opportunities with partners."

Eddy Porwanto, Interim CEO of the Indonesia Investment Authority, stated: "This Program is an important strategic step towards creating a dedicated investment platform along the China–Southeast Asia economic corridor. This is the Indonesia Investment Authority's first investment in a private equity fund structure that invests in other investment funds within this program, reflecting our role as a strategic partner in realizing high-quality investment opportunities. Through the platform, the Indonesia Investment Authority aims to collaborate with leading global institutional investors to channel long-term capital, as well as global expertise and networks, into sectors that support sustainable development and economic value creation in Indonesia."

Israfil Mammadov, Executive Director of SOFAZ, stated: "SOFAZ is pleased to partner with China Investment Corporation and the Indonesia Investment Authority within the framework of the China–ASEAN Investment Program. This platform is an important stage in our strategy in terms of expanding cooperation among sovereign funds and ensuring access to new opportunities in the world's most dynamic economic directions. Thanks to the experience of the partners and long-term capital capabilities, we will be able to more effectively leverage the opportunities created by rapidly developing trade relations and the integration of supply chains between China and Southeast Asia. At the same time, this cooperation will contribute to the further diversification of SOFAZ's investment portfolio."

Wu Peng, Chairman of the Board of "CGS International", stated: "CGS International" will mobilize its extensive experience and established partner network across the Southeast Asia region for the implementation of this Program. This will allow us to more effectively capitalize on high-growth potential sectors and increasing investor interest in the region. We thank China Investment Corporation, the Indonesia Investment Authority, and SOFAZ for the trust placed in us. We are ready to support our partners, taking into account the specific characteristics and existing opportunities of the region."

The signing ceremony for the establishment of the Fund was held on April 13 in Beijing, the capital of China. The parties were represented at the ceremony by Zhang Shaoqing, Executive Vice President and Deputy Chief Investment Officer of China Investment Corporation, Christopher Gani, Chief Investment Officer of the Indonesia Investment Authority, Farhad Zeynalov, Director of the Investment Department of SOFAZ, and Wu Peng, Member of the Executive Committee, Business Director, and Chairman of the Board of "CGS International" of "China Galaxy Securities", respectively.

China Investment Corporation was established in 2007, with its headquarters in Beijing, created for the purpose of diversifying China's foreign exchange reserves, and is one of the world's largest sovereign wealth funds. By the end of 2024, China Investment Corporation's total assets amounted to 1.57 trillion US dollars.

China Investment Corporation operates with a professional approach based on international market principles, while adhering to prudent, responsible, and professional investment principles. The Fund's foreign investment activities include investments in stocks and bonds, hedge funds and multi-asset strategies, private equity and private credit investments, direct and fund-through investments in areas such as real estate, infrastructure, natural resources, and agriculture, as well as the management of bilateral and multilateral funds.

The Indonesia Investment Authority is a sovereign wealth fund operating with the aim of supporting the country's sustainable development and generating wealth for future generations. It carries out investment activities in areas that strengthen the country's competitive advantages and ensure optimal returns while considering risks, and also collaborates with leading local and international investment institutions.

Established in 1999, SOFAZ is a sovereign wealth fund that ensures the collection and efficient management of the country's oil and gas revenues. The main objective of the Fund is to manage the generated revenues in a long-term, sustainable manner to preserve and increase them for future generations. Currently, with total assets exceeding 70 billion US dollars, SOFAZ implements a globally diversified investment strategy covering various areas such as debt obligations and money market instruments, stocks, gold, real estate, and infrastructure.

"China Galaxy Securities" ("CGS") is one of China's leading investment banks, serving over 20 million customers worldwide, with assets under management exceeding 6 trillion RMB (Renminbi – Chinese currency unit). The company has one of the widest branch networks in China and is represented with a broad operational geography in the Asian region.

"CGS International Securities Pte. Ltd." ("CGS International") is a subsidiary of "CGS" responsible for its international operations and the development of the company's global business. Based on "CGS"'s strong institutional foundation and deep market knowledge globally, as well as in the ASEAN region, "CGS International" offers a wide range of services including securities trading, asset management, investment banking, analytical research services, fixed income instruments, foreign exchange and commodity transactions, structured financial products, and brokerage services. The company operates in more than 10 countries and regions.