Azerbaijan’s state oil fund SOFAZ has joined five Asian sovereign and pension investors to launch the China-ASEAN Joint Investment Council at this week’s China International Fair for Investment and Trade in Xiamen, giving the Caspian fund a founding seat in a market of more than 2 billion people.
The rest of the group spans from Beijing to Jakarta: China Investment Corporation (CIC), the sovereign wealth fund that convened the council, Thailand’s Government Pension Fund, Malaysia’s Khazanah Nasional Berhad and pension fund KWAP, and the Indonesia Investment Authority (INA). Singapore’s CGS International Securities runs the secretariat.
