The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has formalised long-term strategic partnerships with global investment giants Brookfield Asset Management, BlackRock, and Global Infrastructure Partners (GIP) during the World Economic Forum in Davos.
The agreements aim to expand existing relationships into structured, large-scale collaborations, opening the door to significant investment flows and expertise in infrastructure, digital technologies, and renewable energy.
Under the Memorandum of Understanding, SOFAZ and its partners plan to explore investment and co-investment opportunities over the next three to four years.
The initiatives will focus on sectors considered strategically important for Azerbaijan’s economic growth, including digital and financial infrastructure, data centres, transport and logistics, energy transition and renewable energy, real estate, and airport infrastructure. Projects are expected to serve not only Azerbaijan’s domestic market but also the wider regional economy.
To implement these initiatives, the agreements will see the creation of sector-specific working groups, joint site visits, technical sessions, and expert discussions, ensuring projects benefit from international operational standards and institutional best practices.
A core goal is to leverage the global experience of Brookfield, BlackRock, and GIP to develop commercially sustainable, long-term infrastructure, and digital projects.
About the partners
SOFAZ, established in 1999 to manage Azerbaijan’s oil and gas revenues, now holds assets in more than 60 countries. Its portfolio spans listed equities, infrastructure projects, and renewable energy investments.
Brookfield Asset Management manages over $1tr in global assets across infrastructure, renewable power, private equity, real estate, and credit, bringing extensive experience in scaling complex projects worldwide.
BlackRock oversees $14tr in assets and operates across 38 countries and has capacity for capital deployment and risk management.
GIP specialises in infrastructure investments, including major airport assets such as London Gatwick and Edinburgh, as well as large-scale data centres.
The BlackRock/GIP platform has also prioritised digital and AI infrastructure projects, highlighting energy and grid systems as a key focus given the rising demand from AI and data centre operations.
Through these partnerships, Azerbaijan aims to strengthen its position as a regional hub for infrastructure and digital investment, attract international capital, and implement globally recognised standards in project development and management.
