01.11.2016 - Azerbaijan launches investment offensive as cheap oil looms
The State Oil Fund of Azerbaijan, better known as Sofaz, is looking to take on more risk, according to Deputy CEO Israfil Mammadov. The fund aims to soon lift its cap on investment in stocks, including private equity, from 15% to 25%, Mammadov recently told The Nikkei Veritas. Sofaz had $33.7 billion in assets under management at the end of June, of which bonds and short-term financial instruments made up roughly 80%. The fund acquired Kirarito Ginza, a shopping mall in Tokyo's ritzy Ginza district, from Japanese leasing giant Orix last year for 52.3 billion yen ($496 million at current rates). Sofaz has also invested in funds involved in Japanese real-estate development, including logistics facilities and properties in outlying cities, Mammadov said............................................Full Article: Source
Print