Oman Investment Authority leads $500 million fund for Central Asia and Caucasus

The Oman Investment Authority (OIA) is leading a six-institution consortium to establish a $500 million private equity fund targeting markets in Central Asia and the Caucasus. The alliance includes the China Investment Corporation, Uzbekistan’s Fund for Reconstruction and Development, Türkiye’s OYAK, the Eurasian Development Bank (EDB), and Shenwan Hongyuan Securities.

The fund aims to target investments in Kazakhstan, Uzbekistan, Azerbaijan, Kyrgyzstan, and Tajikistan. Key sectors of focus include logistics, renewable energy, mining, agriculture, healthcare, and food. The initiative is part of OIA’s strategy to expand its international investment footprint, support economic diversification, and foster knowledge transfer.

A cooperation intent agreement was signed in Beijing on October 20, with formal establishment expected in early November. The fund will seek capital from sovereign wealth funds, investment institutions, and strategic international investors. Omani companies, such as Asyad Group, Minerals Development Oman, and OQ Group, are currently exploring opportunities within the region.