Azerbaijan's SOFAZ and Brookfield sign $1.4 billion strategic partnership in Davos

Azerbaijani President Ilham Aliyev met with Connor Teskey, President of Brookfield Asset Management, on Wednesday to formalize a long-term strategic cooperation between the State Oil Fund of Azerbaijan (SOFAZ) and the global investment firm.

The parties signed a protocol of intent that outlines plans for SOFAZ to evaluate potential capital investments of up to $1.4 billion over the next three to four years into Brookfield-managed funds and joint ventures.

The collaboration focuses on real assets, specifically targeting energy transition, renewable energy, storage solutions, and digital infrastructure within Azerbaijan and globally.

The agreement is designed to institutionalize existing relations and provide the sovereign wealth fund with broader access to leading international investment platforms.

N.Tebrizli