Georgian Co-Investment Fund Targets More Foreign Institutional Investors

Taking a page from the Russian Direct Investment Fund (RDIF), Georgia has launched a co-investment vehicle to channel capital in needed sectors. In late September 2013, Georgian Prime Minister Bidzina Ivanishvili, a billionaire investor who made the bulk of his wealth during Russia’s transition away from communism, invested US$ 1 billion into it himself. Some other investors include the State Oil Company of Azerbaijan (SOCAR), RAK Investment Authority, Batumi Terminal, KazTransOil, Calik Holdings A.S, Milestone International Holdings Group Limited, the Estate of Mr. Badri Patarkatsishvili and Alexander Mashkevich.

Created in the beginning half of 2013, the Georgian Co-Investment Fund (GCF) so far is a US$ 6 billion fund that will target investment projects throughout Georgia. It is headed by George Bachiashvili.

Actively soliciting state-owned investors, the GCF and other Georgian public officials met with Qatari government officials about potential co-investment opportunities.

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