Abu Dhabi-based investment and holding company ADQ and Baku-based Azerbaijan Investment Holding (AIH) have announced a $1 billion joint venture to invest in shared priority sectors.
These sectors include agriculture, technology, pharmaceuticals, and energy infrastructure.
The joint platform intends to identify and capitalise on investment opportunities to generate sustainable financial returns. Initially, the focus will be on investments in Azerbaijan, the UAE, and Central Asia, with potential expansion into other countries.
“We are confident in the value and expertise we bring as an asset owner to the platform, which has the potential to unlock growth opportunities in sectors that play a key role in the development of target geographies,” said Mohamed Hassan Alsuwaidi, Managing Director and CEO at ADQ.
ADQ and AIH will have an equal 50% stake in the joint venture, each committing $500 million to the platform.
“This partnership reflects the significance of economic, political and commercial relationships between the two countries,” said Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Member of the Supervisory Board at AIH. “The new fund will serve as an instrument of implementation of joint projects aimed at the long-term development of both respective countries and the wider region.”
