SOFAZ Had Committed More Capital to BTK Railway Project

On July 1, 2017, the State Oil Fund of Azerbaijan (SOFAZ) committed US$ 631.79 million toward financing the building of the Baku-Tbilisi-Kars railway (BTK) project. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SOFAZ to Transfer $4 Billion for Currency Stabilization Purposes

A predicted increase in U.S. interest rates is wrecking havoc in countries such as Turkey and Azerbaijan. Azerbaijan President Ilham Aliyev issued a decree to transfer up to 7.5 billion manat (US$ 4 billion) of assets from the State Oil Fund of Azerbaijan (SOFAZ) to the Central Bank of the Republic of Azerbaijan in 2017. […]

SOFAZ Looks to Invest in EBRD’s Equity Participation Fund

The State Oil Fund of Azerbaijan (SOFAZ) is a sovereign investor that has substantial allocation toward fixed income assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, August 26, 2016

GPIF Has Tought First Quarter with -3.88% Return Japan’s Government Pension Investment Fund (GPIF) got hit with a US$ 52 billion quarterly loss, a return of -3.88%, for its fiscal first quarter ended June 30. GPIF blamed the loss on a stronger yen which occurred after the United Kingdom voted to leave the European Union […]

SWFI First Read, January 14, 2016

Hedge Fund Guru Tepper Files Suit Against SunEdison David Tepper, through his hedge fund Appaloosa Management, filed a lawsuit against SunEdison, the solar manufacturing company. SunEdison’s stock fell over 84% over the past year. Tepper is not a shareholder of SunEdison, but a shareholder of TerraForm Power, SunEdison’s yield company. He wants to prevent TerraForm […]

Trio of Sovereign Funds Attracted to Milan Offices

Sovereign funds recently made a flurry of transactions in Italian real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SOFAZ Makes First Real Estate Investment in Japan

The State Oil Fund of Azerbaijan (SOFAZ) and Mitsubishi UFJ Trust and Banking Corporation together have acquired Kirarito Ginza in Tokyo for 52.3 billion JPY (US$ 435 million) from Elliott Advisors Asia Limited, a unit of hedge fund Elliott Management Corporation and Orix Real Estate, a unit of Orix Corporation (owner of Robeco). [ Content […]

SOFAZ to Invest in Yuan Denominated Bonds

The State Oil Fund of Azerbaijan (SOFAZ) plans to invest up to US$ 500 million in bonds that are denominated in Chinese Yuan this month. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SOFAZ and Italian Strategic Fund Plan to Sign MoU on LT Investments

The State Oil Fund of Azerbaijan (SOFAZ) is near completing a Memorandum of Understanding with the Fondo Strategico Italiano (FSI), also known as the Italian Strategic Fund. The MoU will highlight a number of new long-term investment projects. Fondo Strategico Italiano is keen on partnering with sovereign wealth funds on investments. The fund has signed […]


Foreign Institutional Investors Fret Over VTB Bank

VTB Bank, Russia’s state-controlled bank and second biggest lender, faced a drastic loss in profit margin in 2014 and could take sustained losses in 2015 due to Russia’s high interest rates and ongoing sanctions with the West. Along with its larger rival Sberbank, the geopolitical situation in Eastern Ukraine has taken a toll on Russian […]

Friday SWFI News Roundup, March 13, 2015

Azerbaijan Sovereign Wealth Fund Looks to Open London Office The State Oil Fund of Azerbaijan (SOFAZ) plans to open an overseas office in London. This is a sign for more allocation to overseas markets. GSO Capital Begins to Market Debut Energy Credit Fund GSO Capital Partners, the credit unit of the Blackstone Group, is attempting […]

Friday SWFI News Roundup, April 25, 2014

Korea Investment Corporation Considers Beijing Office The Korea Investment Corporation (KIC) is considering opening up a Beijing office, joining other sovereign wealth funds like the Kuwait Investment Authority, Qatar Investment Authority and GIC Private Limited. The sovereign wealth fund has a US$ 400 million quota under China’s QFII program. Temasek Holdings’ Offer for Olam is […]

SOFAZ Makes First Asian Real Estate Purchase

The State Oil Fund of Azerbaijan (SOFAZ) has purchased Pine Avenue Tower A in Seoul, South Korea for US$ 447 million. The prime office complex was sold utilizing a competitive auction process managed by Mirae Asset Management on behalf of the four owners which include, NongHyup Bank, NongHyup Life insurance, Woori Bank and KDB Life […]

SOFAZ Testing Waters in Asset Diversification

The US$ 34.1 billion State Oil Fund of Azerbaijan (SOFAZ) embarked on a path to diversify asset holdings. From 2011 to 2012, SOFAZ’s assets grew by 14.5%. The Central Asian sovereign fund expanded their investment policy to permit investments in gold bullion and institutional real estate. Up to 5% of SOFAZ’s assets can be allocated […]

VTB Receives Major Backing from Sovereign Investors

VTB Bank has finalized its 102.5 billion roubles (US$ 3.3 billion) offering of new ordinary shares. Qatar Holding, the State Oil Fund of Azerbaijan, Norges Bank Investment Management and China Construction Bank have purchased 55% of the new shares issued. VTB chairman Andrei Kostin mentioned the three sovereign funds investing about US$ 500 million each. […]

VTB Group’s Capital Raise Draws Sovereign Funds

Russia’s second biggest lender, state-run VTB Group, is raising nearly 102.5 billion roubles (US$ 3.3 billion) in a share sale. VTB Group plans to sell 2.5 trillion new shares. With regard to sovereign fund investment, included are Norges Bank Investment Management (NBIM), the State Oil Fund of Azerbaijan (SOFAZ) and Qatar Holding LLC. The government […]

SOFAZ Analyzes Funding for Trans-Anatolian Pipeline

Increasingly, Europe and its Eastern neighbors are in need of steady energy supplies. Pipeline politics are influencing investment and geopolitical decisions. Natural gas from Central Asia is attempting to connect with European and Turkish energy consumers through new routes. The Trans-Anatolian pipeline (TANAP) is a pipeline project that aims to transport 16 billion cubic meters […]

SOFAZ Going Down Under for Properties

The State Oil Fund of Azerbaijan (SOFAZ) is looking to acquire core real assets in Australia, particularly Sydney. Australia has been a noteworthy real estate market for a number of sovereign wealth fund property investors. Australia has access to Asian nations and has robust transparency in property markets. Office and retail properties have been targets […]

SOFAZ Increases Allocation to Gold, Stocks and Real Estate

A new investment policy was adopted by the State Oil Fund of Azerbaijan (SOFAZ) with the purpose of enhancing profitability and diversification. SOFAZ can now invest up to 5% each in gold, equities, and real estate. In the month of December 2012, SOFAZ made a number of European real estate purchases. Beginning February 1, 2012, […]

SOFAZ Buys Gallery Actor in Moscow

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) purchased their third property investment, this one in Moscow’s central business district at 16 Tverskaya Street for US$ 133 million. The Gallery Actor is a mixed-use office and retail complex that was owned by Metropolitan Insurance Group, part of the VTB Group. Built in 1881, […]