"The State Oil Fund of Azerbaijan (SOFAZ) is investing in higher-yielding assets," said Israfil Mammadov, Executive Director of SOFAZ, in an interview with APA-Economics.
He noted that this factor has been particularly considered in recent investments. Within this framework, the Fund is investing in assets characterized by lower risk and long-term government backing with returns of 7–8%. One such investment is the $50 million stake made in May this year in Abu Dhabi-based ADNOC Gas Pipeline Assets LLC (AGPA). Mammadov said that the Fund could have invested more in this company, but due to high demand for shares of such firms, the investment amount was limited to $50 million.
Israfil Mammadov also shared his thoughts on SOFAZ’s $100 million investment in the “GEMS Education” network in the United Arab Emirates (UAE). He said expectations from this investment are high.
“GEMS Education, which the Fund has invested in, is the world’s largest and most advanced private education network providing 12-year education. The company was established in the UAE in 1959. Currently, the private education network has schools across the Middle East, North Africa, Asia, Europe, and America, educating 170,000 students from 176 countries. In the UAE alone, where the company holds a significant market share, more than 135,000 students are enrolled across over 40 schools. The expected return on this investment is over 15%, which is considered a very strong indicator within the risk-return profile of the Fund’s overall portfolio,” the Executive Director added.
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