First close of $520 million anchored by China Investment Corporation, Indonesia Investment Authority, and State Oil Fund of the Republic of Azerbaijan

Baku, April 15, AZERTAC

The State Oil Fund of the Republic of Azerbaijan, China Investment Corporation (“CIC”), and Indonesia Investment Authority (“INA”) have jointly established the Galaxy Orientis China–ASEAN Investment Platform (“CAIP” or “the Program”), a sovereign-led private equity platform dedicated to capturing long-term investment opportunities across the China–ASEAN corridor. The Program has reached a first close of approximately $520 million, with a target size of $1 billion.

The Program brings together the three sovereign wealth funds in a jointly governed investment platform, designed to facilitate long-term capital flows and industrial collaboration between China and the ASEAN region. Against a backdrop of deepening China–ASEAN trade integration and accelerating supply-chain realignment across Southeast Asia, CAIP aims to capture high-quality investment opportunities in industrial, healthcare, consumer, business services, technology, and other sectors that drive this structural shift.

CGS International Securities Pte. Ltd. (“CGS International”), the overseas arm of China Galaxy Securities (“CGS”), serves as General Partner, providing regional expertise, operational infrastructure, and on-the-ground networks across Southeast Asia.

The funds under the Program will be invested in fund structures managed by reputable private equity managers that exhibit a clear China–Pan ASEAN angle, as well as deals in select ASEAN countries. These include Chinese companies with clear strategic plans to expand into ASEAN, or ASEAN companies that can benefit from Chinese technologies, supply chains, know-how, and talent.

Zhang Qingsong, Chairman and CEO of CIC said, "CIC, together with our partners INA and SOFAZ, is launching the Galaxy Orientis China-ASEAN Investment Program based on our firm optimism about ASEAN's economic growth prospects and deep recognition of the immense potential of China-ASEAN cooperation. We hope, through investing in high-quality companies targeting the ASEAN market, the Fund will not only deliver a sound financial return, but also promote regional economic prosperity, achieving win-win outcomes on social and economic fronts. It is also part of CIC’s continuous effort to leverage our unique advantage as the Chinese sovereign wealth fund and collaborate with partners to capture global opportunities.”

Eddy Porwanto, Acting Chief Executive Officer of INA, said, “This Program represents a strategic step in establishing a dedicated investment platform across the China–Southeast Asia corridor. As INA’s first investment into a fund-of-funds under this thematic program, it reflects our role as a strategic partner in helping unlock high-quality investment opportunities. Through this platform, INA aims to facilitate the flow of long-term capital, alongside global expertise and networks, in partnership with leading global institutional investors, into sectors that foster sustainable growth and long-term economic value creation in Indonesia.”

Israfil Mammadov, Chief Executive Officer of SOFAZ, said, “SOFAZ is delighted to partner with CIC and INA on the China–ASEAN Investment Program. This platform represents a key milestone in our strategy to build deep, sovereign-to-sovereign partnerships that access the world’s most dynamic economic corridors. By pooling our collective expertise and long-term capital, we are better positioned to capitalize on the accelerating trade and supply-chain integration between China and Southeast Asia, while contributing to the further diversification of SOFAZ’s investment portfolio.”

Wu Peng, Chairman of CGS International, said, “CGS International will bring to the Program our extensive knowledge, deep presence and wide networks in Southeast Asia, capitalizing its high growth sectors and renewed investor interest. We are grateful to CIC, INA and SOFAZ for trusting us to help them navigate the region’s complexities and growth opportunities.”

The Fund was launched at a signing ceremony held on April 13 in Beijing, China. CIC Executive Vice President and Deputy Chief Investment Officer Zhang Shaoqing, INA Chief Investment Officer Christopher Ganis, SOFAZ Chief Investment Officer Farhad Zeynalov, and CGS International, represented by Member of the Executive Committee and Business Director of CGS and Chairman of CGS International Wu Peng, represented the respective parties at the signing.

About China Investment Corporation

Founded in 2007, Beijing-headquartered China Investment Corporation (CIC) was established to diversify China’s foreign exchange holdings and is one of the largest sovereign wealth funds in the world. By the end of 2024, CIC's total assets stood at USD 1.57 trillion.

CIC operates on an international, market-driven, and professional basis and remains dedicated to prudent, professional and responsible investment. CIC’s overseas investment activities include public equity and bond investments; hedge fund and multi-asset investments; industry-wide private equity and private credit investments; direct investments and fund investments in sectors such as real estate, infrastructure, resources and commodities, and agriculture; and managing bilateral and multilateral funds.

About Indonesia Investment Authority

Indonesia Investment Authority is Indonesia’s sovereign wealth fund mandated to increase investment to support the country’s sustainable development and build wealth for its future generations. INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia’s advantages and provide risk-adjusted optimal returns. For more information, visit: www.ina.go.id.

About State Oil Fund of the Republic of Azerbaijan

The State Oil Fund of the Republic of Azerbaijan, established in 1999, is a sovereign wealth fund dedicated to managing the nation’s oil and gas revenues, with a commitment to safeguarding and enhancing wealth for future generations. As a long-term investor with over USD 70 billion in assets under management, SOFAZ pursues a diversified investment strategy that encompasses global opportunities across various sectors, including fixed income, equities, gold, real estate, and infrastructure.

For more information:www.oilfund.az

About China Galaxy Securities / CGS International Securities

China Galaxy Securities (“CGS”) is a leading Chinese investment bank, serving over 20 million clients worldwide with assets under custody exceeding RMB 6 trillion. CGS operates one of the largest branch networks in China and has an extensive presence across Asia.

CGS International Securities Pte. Ltd. (“CGS International”) is the overseas arm of CGS, responsible for its international business and regional expansion. Leveraging CGS’s strong foundation, together with deep global and ASEAN insights, CGS International offers a comprehensive suite of services, including equities trading, leveraged products, wealth management, investment banking, equities research, Shariah-compliant financing, fixed income, currencies and commodities, structured products, and prime brokerage, across more than 10 countries and regions.