BAKU, Azerbaijan, October 29. A delegation led
by the Executive Director of the State Oil Fund of the Republic of
Azerbaijan (SOFAZ), Israfil Mammadov, conducted a business visit to
Saudi Arabia on October 27-28, focusing on expanding cooperation
with global financial institutions, analyzing worldwide economic
trends, and assessing new markets, Trend reports.
During the visit, the delegation met with top executives from
leading investment and financial organizations, including The Arab
Energy Fund, Starwood Capital Group, Gulf Islamic Investments
(GII), Investindustrial, Warburg Pincus, LumaGroup, CVC Capital
Partners, Franklin Templeton, Brookfield Asset Management (BAM),
BTG Pactual, China Investment Corporation (CIC), and FSI (Fondo
Strategico Italiano). Discussions focused on expanding joint
investment initiatives, participation in new markets, long-term
capital management, and improving the efficiency of capital flows
in the global economic environment. The delegation also exchanged
views on sustainable and responsible investment models and the
strategic role of sovereign wealth funds in institutional capital
markets.
In addition to the meetings, Mammadov participated in a panel at
the international Future Investment Initiative (FII) 2025 in Riyadh
on October 28, speaking on “Sovereign Wealth and Institutional
Capital in the New Economic Reality.”
He underscored the pivotal function of sovereign wealth funds
within the international capital ecosystem, accentuating SOFAZ’s
methodology towards sustainable governance, robust risk mitigation
strategies, and prudent investment practices aimed at fostering
enduring value generation.
Mammadov also stressed the Fund’s priority on supporting
technological innovation and energy transition within its
investment strategy. Other panelists included the President and
Chief Executive Officer of The TCW Group, Inc., Katie Koch, Liberty
Strategic Capital founder and former U.S. Treasury Secretary Steven
T. Mnuchin, China Investment Corporation Executive Vice President
Shaoqing Zhang, and geoeconomics editor of The National, Manus
Cranny.
Established in 1999 with assets amounting to $271 million at the
time, SOFAZ is an extrabudgetary fund that operates as a distinct
legal entity, independent of the government or central bank. SOFAZ
protects and judiciously administers energy-derived revenues for
current and forthcoming generations. A fundamental principle of
SOFAZ is transparency. During this era, the Fund has evolved
institutionally and attained international recognition as an asset
management organization.
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