BAKU, Azerbaijan, January 12. The Azerbaijan
State Oil Fund (SOFAZ) held a real estate sub-portfolio valued at
$4.681 billion as of September 30, 2025, the Chamber of Accounts’
review of the Fund’s 2026 budget stated, Trend reports.
The portfolio includes high-profile international properties,
such as an office complex in London’s West End valued at 195.8
million pounds sterling, the Tverskaya, 16 OAO, which owns the
Galereya Aktyor (Actors` Gallery) building in central Moscow worth
2.82 billion Russian rubles, a real estate complex at Place Vendôme
in Paris valued at 192.4 million euros, and a shopping center in
Tokyo worth 56,154 million Japanese yen.
In addition, SOFAZ’s real estate investments include
fund-managed assets by major global investors such as PGIM, PAG,
E-Shang Redwood, Gaw Capital, Blackstone, BlackRock, Walton Street,
Ares, BentallGreenOak, Starwood, Angelo, Gordon & Co., FLE
SICAV-FIS, Prologis, Charter Hall, Brookfield, Niam, the
International Finance Corporation, EQT, and Global Infrastructure
Partners (GIP). The portfolio also contains joint investments with
PGIM, Gaw Capital, KIC, AroundTown, KKR & Co. Inc., Lunate, Carlyle
Group, GIP, and Brookfield, as well as direct investments in
Enfinity Global’s renewable energy projects and Azerbaijan Rigs
LLC.
SOFAZ reported that the real estate sub-portfolio grew by $1.14
billion in the first nine months of 2025. This increase was driven
by the reclassification of $571.1 million of infrastructure
investments from the equities sub-portfolio into real estate,
additional funds transferred from the Fund’s debt and money market
sub-portfolios, and gains from currency fluctuations.
Stay up-to-date with more news on Trend News
Agency's WhatsApp channel
