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Abu Dhabi private equity firm Gulf Capital and a subsidiary of Kazakhstan’s sovereign wealth fund have established an $800 million fund to drive investments in Central Asia.
The partnership between the Qazaqstan Investment Corporation (QIC) and Gulf Capital will include the expansion of the UAE firm’s portfolio companies in Kazakhstan, with the support of the Central Asia country’s sovereign wealth fund, Baiterek Holding, along with facilitating foreign direct investment (FDI) into the country, a post on LinkedIn said.
The $800 million fund will focus on a number of sectors including technology, fintech, healthcare, healthtech, business services, logistics, among others.
The deal follows on from QIC’s partnership with Abu Dhabi sovereign investor ADQ in December, which saw the two entities set up an investment platform, focusing on food, agriculture, mobility, healthcare, energy transformation and clean technology, among others.
(Writing by Bindu Rai, editing by Seban Scaria)
