ADQ launches joint venture in Azerbaijan

Abu Dhabi-based sovereign wealth fund ADQ has collaborated with the Azerbaijan Investment Holding (AIH) to launch a joint investment platform.

The joint venture between the two sovereign wealth funds has been valued at US$1 billion.

ADQ and AIH will both hold a 50% stake in the JV and contribute $500 million in seed money.

According to a statement, it will invest in sectors of “mutual priority and interest” such as technology, pharmaceuticals, agriculture and energy infrastructure.

The launch of the platform in Azerbaijan comes just weeks after ADQ struck a similar agreement in Kazakhstan with the sovereign wealth fund Qazaqstan Investment Corporation.

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