SOFAZ and five other leading sovereign wealth funds established the China-ASEAN Joint Investment Council (CAJIC) to strengthen cooperation and explore investment opportunities across China and Southeast Asia. The platform focuses on relationship-building, knowledge-sharing, and capital deployment through joint initiatives like the Galaxy Orientis investment program.
Key Points
• SOFAZ and five leading sovereign wealth funds established the China-ASEAN Joint Investment Council (CAJIC) to strengthen relationships, exchange investment perspectives, and explore bilateral and multilateral cooperation opportunities across China and Southeast Asia.
• CAJIC complements the Galaxy Orientis China-ASEAN Investment Program (CAIP), a jointly governed private equity platform with approximately US$520 million in first close and US$1 billion target size, focusing on long-term investment opportunities in industrials, healthcare, consumer, business services, and technology sectors.
• SOFAZ’s participation strengthens financial and institutional ties between Azerbaijan and Asian investors, supporting its portfolio diversification strategy and access to high-quality investment opportunities through trusted institutional networks.
Strategic Formation of China-ASEAN Investment Council
Establishment and Core Structure
Six leading sovereign wealth funds have established the China-ASEAN Joint Investment Council (CAJIC), a significant collaborative platform announced at the 26th China International Fair for Investment and Trade in Xiamen. The founding members include SOFAZ (Azerbaijan), China Investment Corporation (CIC), Thailand Government Pension Fund, Khazanah Nasional Berhad, Kumpulan Wang Persaraan, and Indonesia Investment Authority (INA). Convened by CIC with CGS International Securities serving as secretariat, this member-led institutional platform strengthens long-term relationships and explores bilateral and multilateral cooperation opportunities across China and Southeast Asia.
Operational Focus Areas
CAJIC operates across three strategic dimensions: People, through investment forums and executive programs; Insights, through research and knowledge-sharing initiatives; and Capital, through separately governed investment programs. This comprehensive approach enables participating institutions to develop deeper connections while identifying mutually beneficial opportunities across the region’s growing economic landscape.
SOFAZ’s Progressive Engagement Strategy
Building on Established Relationships
For SOFAZ, CAJIC represents the evolution of its decade-long investment engagement in China. The fund has progressively expanded institutional relationships with leading Chinese partners, culminating in an April 2025 Memorandum of Understanding with CIC establishing a strategic framework for deeper cooperation. This foundation demonstrates SOFAZ’s commitment to strengthening financial and institutional ties within the region, complementing Azerbaijan’s position as a physical bridge between Asia and Europe through the Middle Corridor.
Joint Investment Initiatives
In April 2026, SOFAZ, CIC, and INA jointly established the Galaxy Orientis China-ASEAN Investment Program (CAIP), a sovereign-led private equity platform. The program achieved a first close of approximately US$520 million with a target size of US$1 billion, focusing on long-term opportunities in industrials, healthcare, consumer, business services, and technology sectors. While CAIP and CAJIC are separate initiatives, they remain complementary—CAJIC provides the institutional platform while CAIP serves as the mechanism for deploying capital into specific opportunities.
Strategic Value and Long-Term Benefits
Regional Connectivity and Financial Integration
SOFAZ’s participation in CAJIC strengthens the financial infrastructure supporting Azerbaijan’s geographic position between Asia and Europe. As physical connectivity through the Middle Corridor develops, parallel institutional relationships with leading Asian sovereign investors create complementary channels for growth and cooperation. This dual approach—physical infrastructure and financial institutional ties—positions SOFAZ strategically for sustained engagement.
Portfolio Diversification and Partnership Building
For long-term investors, trusted partners, local market knowledge, and co-investment capabilities prove as valuable as capital access itself. CAJIC membership provides SOFAZ practical channels to deepen relationships with regional sovereign institutions while accessing high-quality investment opportunities through strong institutional networks. This approach fundamentally supports SOFAZ’s objective of long-term portfolio diversification and sustainable partnership development with aligned global capital.
Source : SOFAZ, Leading Sovereign Investors Establish China-ASEAN Joint Investment Council
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