SOFAZ, partners raise $520 mln for China-ASEAN platform

The State Oil Fund of Azerbaijan (SOFAZ), China Investment Corporation and Indonesia Investment Authority have raised about $520 million in a first close for the Galaxy Orientis China–ASEAN Investment Platform (CAIP), the fund said.    

The platform, designed as a sovereign-backed private equity vehicle targeting long-term opportunities in China and Southeast Asia, has a target size of $1 billion.    

The three funds will jointly manage the platform, which aims to boost capital flows and strengthen industrial cooperation amid deepening trade ties between China and ASEAN countries and a reconfiguration of regional supply chains.

Investments are expected to focus on sectors including industrials, technology, healthcare, consumer markets, and business services.

China Galaxy Securities’ international arm, CGS International Securities, is providing operational support and regional expertise for the project.

N.Tebrizli