Oman Leads $500M Fund for Central Asia, Caucasus Investments
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The Oman Investment Authority (OIA) is leading an international consortium to create a $500 million private equity fund focused on Central Asia and the Caucasus, with plans to formally establish the fund in early November.
The fund, named the Central Asia and Caucasus Private Equity Fund, will concentrate on investments in logistics, renewable energy, mining, agriculture, food, and healthcare. The initiative brings together six institutions: OIA, China Investment Corporation, Uzbekistan's Fund for Reconstruction and Development, Türkiye's OYAK, the Eurasian Development Bank, and China's Shenwan Hongyuan Securities.
The consortium signed a cooperation-intent agreement at the Financial Street Forum in Beijing on October 20.
The fund aims to attract capital from sovereign wealth funds, institutional investors, and strategic partners. An Omani company, managed by national professionals, is expected to oversee the fund, although the specific company has not been disclosed.
The target markets for this fund are Kazakhstan, Uzbekistan, Azerbaijan, Kyrgyzstan, and Tajikistan, which collectively have a population exceeding 86 million.
Foreign direct investment inflows into these five countries rose by 16.6% to approximately $4.64 billion in 2025. The region also attracted around 37.36 million international tourists in the same year, highlighting potential investment opportunities in transport, infrastructure, and related services.
The economies of these countries grew by an average of approximately 7% in 2025, significantly higher than the global growth rate of 3.5% according to the International Monetary Fund. The region's natural resources, including oil, gas, gold, copper, uranium, and hydropower, present additional investment opportunities in energy and mining.
OIA portfolio companies Asyad Group, Minerals Development Oman, and OQ Group are exploring opportunities in logistics, mining, and energy across the target markets.
No specific investments or project values have been announced.
OIA manages the sovereign wealth fund of Oman.
