Almaty, 26 October. The Eurasian Development Bank (EDB), together with the China Investment Corporation (CIC), the Oman Investment Authority (OIA), Uzbekistan's Fund for Reconstruction and Development (UFRD), Türkiye's OYAK fund and China's Shenwan Hongyuan Securities, is co-founding the Central Asia and Caucasus Private Equity Fund (CACPEF), the bank said.
The fund will invest in promising companies in Central Asia and the South Caucasus. "Companies in Central Asia and the South Caucasus need long-term capital to scale up their business and enter new markets," the EDB statement says. The size of the fund, its start date and the shares of the participants have not been disclosed. According to the bank, sovereign funds of Central Asian countries, regional development banks and pension funds are also being invited to take part.
Unlike a bank, a private equity fund does not lend money: it buys stakes in companies and sells them a few years later, earning on the growth in the value of the business; partners usually bring companies not only money but also access to markets and technology. The participants include large state investors: the OIA is Oman's sovereign investment fund, and OYAK is a large Turkish pension and investment fund.
What it means: The region gains a new source of long-term money, pooled from Chinese, Gulf and Turkish capital and managed with a multilateral bank in which Central Asian countries take part.
Who benefits: Companies in the region for which bank loans are expensive or unavailable. Investors from China, Oman and Türkiye gain access to Central Asia's growing markets through a partner that knows local conditions.
Background: The new fund is part of the EDB's strategy to strengthen its position in Chinese and Middle Eastern markets: on 6 October 2026 the bank and Oman's Ministry of Finance signed a framework agreement that began Oman's accession as an EDB member.
