Hassana Investment Company has signed a Memorandum of Understanding (MoU) with the State Oil Fund of the Republic of Azerbaijan (SOFAZ) to explore collaborative investment opportunities in the Kingdom of Saudi Arabia.
This MoU establishes a framework for strategic cooperation between the two organizations, enabling them to investigate co-investment and asset transfer options in sectors such as private equity, infrastructure, and real estate. The agreement will facilitate ongoing discussions aimed at strengthening their partnership and identifying projects that align with their investment objectives.
The MoU was signed by Mr. Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and Mr. Israfil Mammadov, CEO of SOFAZ.
Mr. Al-Fadly emphasized the significance of the partnership with SOFAZ, stating, “The MoU will enable both parties to capitalize on emerging opportunities in the Kingdom’s investment sector. This collaboration focuses on key areas such as private equity, real estate, and infrastructure, with a strong commitment to generating long-term value and achieving exceptional investment results.”
Mr. Mammadov noted that the collaboration represents a major milestone for SOFAZ’s investment strategy in Saudi Arabia, stating, “This partnership opens new avenues for growth and collaboration. We look forward to working with Hassana to identify projects that are mutually beneficial.”
SOFAZ, Azerbaijan’s sovereign wealth fund, aims to expand its international investment portfolio, including opportunities in Saudi Arabia. The Kingdom’s dynamic economic reforms, ambitious Vision 2030 initiatives, and expanding infrastructure development have made it a prime destination for foreign direct investment, attracting global interest across various sectors.
About Hassana Investment Company:
Hassana Investment Company serves as the investment manager for the General Organization for Social Insurance (GOSI). With assets exceeding SAR 1.2 trillion (approximately USD 320 billion), Hassana manages one of the largest pension funds globally, maintaining a diversified portfolio of local, regional, and international investments across various asset classes. The company focuses on long-term investments, employing a thoughtful approach and robust processes to ensure optimal investment outcomes that address the future pension needs of all Saudi generations.
About the State Oil Fund of the Republic of Azerbaijan:
Established in 1999, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a sovereign wealth fund responsible for managing the nation’s oil and gas revenues, dedicated to safeguarding and enhancing wealth for future generations. With over USD 60 billion in assets under management, SOFAZ follows a diversified investment strategy, exploring global opportunities across various sectors, including real estate, equities, fixed income, and infrastructure.
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