Azerbaijan has participated in the establishment of the “Galaxy Orientis” China–ASEAN Investment Platform.

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

The platform is a sovereign private equity platform aimed at realizing long-term investment opportunities between China and the ASEAN region.

At the initial stage, approximately $520 million has been raised under the Program, with a total target size set at $1 billion.

The platform operates under a joint governance mechanism of the three sovereign funds to promote capital flows and strengthen industrial cooperation between China and ASEAN. Against the backdrop of deepening China–ASEAN trade relations and the restructuring of supply chains in Southeast Asia, the Program aims to capitalize on high-quality investment opportunities in sectors such as industry, healthcare, consumer goods, business services, and technology.

The lead partner of the Program, China Galaxy Securities, through its international subsidiary CGS International Securities Pte. Ltd., supports the platform with extensive regional experience, operational infrastructure, and established networks in Southeast Asia.

Under the Program, funds will be allocated to leading private equity managers operating in the China–ASEAN corridor, as well as to selected investment projects in ASEAN countries. These investments will support the expansion of Chinese companies into ASEAN markets and enable ASEAN companies to benefit from Chinese technology, supply chains, and human capital.

Chairman and CEO of China Investment Corporation, Zhang Qingsong, stated: “Together with our partners, the Indonesia Investment Authority and SOFAZ, we are launching the ‘Galaxy Orientis’ China–ASEAN Investment Program based on our strong confidence in ASEAN’s economic prospects and the vast potential of China–ASEAN cooperation. By investing in high-quality companies targeting ASEAN markets, we believe the Fund will not only generate sustainable financial returns but also contribute to economic development in the region. This initiative is part of CIC’s continued efforts to leverage its strengths as China’s sovereign wealth fund to explore global investment opportunities with partners.”

Acting CEO of the Indonesia Investment Authority, Edi Porwanto, said: “This Program represents an important strategic step toward establishing a dedicated investment platform along the China–Southeast Asia economic corridor. It is also INA’s first investment in a private equity fund structure that invests in other funds. Through this platform, INA aims to collaborate with leading global institutional investors and channel long-term capital, expertise, and networks into sectors that support sustainable development and value creation in Indonesia.”

SOFAZ Executive Director Israfi̇l Mammadov noted: “SOFAZ is pleased to partner with China Investment Corporation and the Indonesia Investment Authority under the China–ASEAN Investment Program. This platform marks an important milestone in expanding cooperation among sovereign funds and accessing new opportunities in one of the world’s most dynamic economic regions. Leveraging our partners’ expertise and long-term capital, we will more effectively benefit from the growing trade ties and supply chain integration between China and Southeast Asia. At the same time, this collaboration will contribute to further diversification of SOFAZ’s investment portfolio.”

Chairman of CGS International, Wu Peng, added: “CGS International will mobilize its extensive experience and established partner network in Southeast Asia to support the implementation of this Program. This will enable more effective utilization of high-growth sectors and increasing investor interest in the region. We thank China Investment Corporation, the Indonesia Investment Authority, and SOFAZ for their trust and are ready to support our partners by taking into account regional specifics and opportunities.”

The signing ceremony for the establishment of the fund was held on April 13 in Beijing. The parties were represented by CIC Executive Vice President and Deputy CIO Zhang Shaoqing, INA Chief Investment Officer Christopher Ganis, SOFAZ Investment Department Director Farhad Zeynalov, and CGS Executive Committee member and CGS International Chairman Wu Peng.

China Investment Corporation, established in 2007 and headquartered in Beijing, was created to diversify China’s foreign exchange reserves and is one of the world’s largest sovereign wealth funds. As of the end of 2024, its total assets amounted to $1.57 trillion.

CIC operates based on international market principles with a professional approach, adhering to prudent, responsible, and disciplined investment strategies. Its foreign investment activities include equities and bonds, hedge funds and multi-asset strategies, private equity and private credit, as well as direct and fund investments in real estate, infrastructure, natural resources, and agriculture, along with bilateral and multilateral fund management.

The Indonesia Investment Authority is a sovereign wealth fund aimed at supporting sustainable development and building wealth for future generations, investing in sectors that enhance national competitiveness while ensuring optimal risk-adjusted returns and collaborating with leading domestic and international institutions.

Established in 1999, SOFAZ is a sovereign wealth fund responsible for accumulating and efficiently managing Azerbaijan’s oil and gas revenues. Its main objective is to preserve and grow these revenues for future generations through long-term, sustainable management. With total assets exceeding $70 billion, SOFAZ implements a globally diversified investment strategy across fixed income, money market instruments, equities, gold, real estate, and infrastructure.

China Galaxy Securities (CGS) is one of China’s leading investment banks, serving more than 20 million clients worldwide and managing assets exceeding 6 trillion RMB. The company has one of the largest branch networks in China and a broad presence across Asia.

CGS International Securities Pte. Ltd. is the international arm of CGS, responsible for expanding its global business. Leveraging CGS’s strong institutional base and deep market knowledge globally and across ASEAN, CGS International provides a wide range of services including securities trading, asset management, investment banking, research, fixed income, foreign exchange and commodities trading, structured finance products, and brokerage services. The company operates in more than 10 countries and regions.