Politics
OYAK of Trkiye and OIA of Oman create a joint investment fund of 500 million dollars
Turkish pension fund OYAK and the Oman Investment Authority (OIA) announced on November 29 the creation of a joint investment fund worth $500 million.
According to the statement of OYAK, the two institutions will each contribute up to $250 million to the fund. The first investment of the Oman Investment Authority-OYAK fund is expected to be the “Southern Container Port”, a new port to be built in Iskenderun, aiming to meet the needs of the entire region.
The Oman Investment Authority, known for collaborating with domestic funds, already has joint venture funds in countries including Spain, Brunei, Vietnam, Uzbekistan, Saudi Arabia, Qatar, India and the Pakistan.
Through this fund, OYAK and the Oman Investment Authority aim to invest not only in Trkiye but also in different regions around the world.
“A fund of $500 million demonstrates the confidence placed in our institution”
OYAK General Director Suleyman Savas Erdem, quoted in the press release, stressed that OYAK is a model institution in its field, serving as a complementary professional pension fund. Erdem highlighted that OYAK currently operates in different sectors in Trkiye's seven geographic regions, on six continents, in 25 countries, and continuously for 24 hours in all time zones.
Abdulsalam bin Mohammed al-Murshidi, Chairman of the Oman Investment Authority, said the new strategic partnership aligns with the Authority's growth and expansion plans for its international investment network.
“This agreement is part of our efforts to establish sustainable investment partnerships with high returns and strategic value for our national economy. We are proud of the global position and extensive experience that has enabled the Oman Investment Authority to form strategic partnerships with nine sister countries to date,” said al-Murshidi.
A portfolio worth $51 billion
Established in 2020 through the merger of the State General Reserve Fund and the Oman Investment Fund, the Oman Investment Authority operates as an autonomous entity with financial and operational independence.
Directly linked to the Council of Ministers of Oman, the primary mission of the Oman Investment Authority is to manage the funds and assets of the Sultanate and optimize their returns.
In 2023, the authority holds assets worth $51 billion, with investments in sectors including aviation, energy, mining, logistics, tourism, financial services, technology information, food and fishing in more than 50 countries.
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