June 18, 2024

ADQ and Azerbaijan Investment Holding announces joint venture

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ADQ and Azerbaijan Investment Holding form joint investment platform
ADQ and Azerbaijan Investment Holding form joint investment platform

ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund located in Baku, have announced the formation of a joint venture with the aim of investing in sectors of mutual priority and interest, such as agriculture, technology, pharmaceuticals and energy infrastructure.

The platform will seek and leverage investment opportunities with the goal of generating sustainable financial returns on deployed capital. Investments will primarily be concentrated in Azerbaijan, the UAE, and Central Asia, with the potential to expand to other countries.

ADQ and AIH will each hold a 50 percent interest in the joint venture, with each party committing USD 500 million to the platform.

Established in 2020, AIH is a strategic fund entrusted with enhancing the management and operation of state-owned enterprises under its purview. Through its investments and initiatives, AIH actively participates in the long-term development and prosperity of Azerbaijan, which is further strengthened by the formation of this joint venture.

ADQ and Azerbaijan Investment Holding

ADQ is poised to contribute to the platform through its investment acumen, which encompasses key sectors of its economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics.

Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer at ADQ, commented: “The establishment of this joint investment platform not only strengthens the bilateral ties between our two countries but also underscores ADQ’s commitment to fostering meaningful partnerships in strategic markets that align with our investment priorities. 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.”

Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan, Member of the Supervisory Board at AIH, commented: “This partnership reflects the significance of economic, political and commercial relationships between the two countries. The new fund will serve as an instrument of implementation of joint projects aimed at long-term development of both respective countries and the wider region.”

Since 1992, the UAE and the Republic of Azerbaijan have maintained robust economic relations, marked by a more than threefold increase in the value of their non-oil trade over the past five years. The two countries continue to explore areas of mutual interest.

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