Azerbaijan's SOFAZ expands global reach with new China–ASEAN investment platform

The State Oil Fund of Azerbaijan (SOFAZ), together with the China Investment Corporation and the Indonesia Investment Authority, has announced the establishment of the Galaxy Orientis Investment Platform, a joint sovereign investment initiative launched on April 13.

The platform is designed as a sovereign direct investment mechanism aimed at unlocking long-term investment opportunities between China and the Association of Southeast Asian Nations (ASEAN), Caliber.Az reports, citing SOFAZ,

“The platform operates under the joint management of three sovereign wealth funds to facilitate capital inflows and strengthen industrial cooperation between China and the ASEAN region. At the initial stage of the program, approximately $520 million has been raised, with a total target of $1 billion,” the statement said.

The initiative will focus on identifying high-quality investment opportunities across sectors including industry, healthcare, consumer goods, business services, and technology. It comes amid deepening trade relations between China and ASEAN and ongoing restructuring of supply chains across Southeast Asia.

Under the framework, the program will invest in funds managed by established private equity firms involved in China–ASEAN cooperation, as well as in selected investment projects across ASEAN member states.

“These investments include the expansion of Chinese companies into ASEAN markets or enabling ASEAN companies’ access to Chinese technology, supply chains, and human capital,” the statement noted. It added that the general partner of the program is CGS International Securities Pte. Ltd., the international operating subsidiary of China Galaxy Securities, which will support the platform using its regional expertise, operational infrastructure, and established networks in Southeast Asia.

SOFAZ Executive Director Israfil Mammadov said the platform represents a significant milestone in the fund’s strategy to deepen cooperation among sovereign wealth funds and access emerging opportunities in dynamic global markets.

“With the expertise and long-term capital capacity of our partners, we will be able to more effectively capitalize on opportunities created by rapidly developing trade relations and supply chain integration between China and Southeast Asia. At the same time, this cooperation will contribute to further diversification of SOFAZ’s investment portfolio,” Mammadov said.

The signing ceremony for the establishment of the fund was held in Beijing.

It was attended by Shaoqing Zhang, Executive Vice President and Deputy Chief Investment Officer of the China Investment Corporation; Christopher Ganis, Chief Investment Officer of the Indonesia Investment Authority; Farhad Zeynalov, Director of the Investment Department of SOFAZ; and Wu Peng, CGS International, represented by Member of the Executive Committee and Business Director of CGS and Chairman of CGS International.

By Vafa Guliyeva