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The Eurasian Development Bank said in a statement that representatives of six institutions signed the cooperation intent for the Central Asia and Caucasus Private Equity Fund during the Financial Street Forum in Beijing on October 20. The co-sponsors include the China Investment Corporation, the Oman Investment Authority, Uzbekistan’s Fund for Reconstruction and Development, Türkiye’s OYAK pension fund, Shenwan Hongyuan Securities and the EDB itself. The bank added that additional sovereign wealth funds, regional development banks and pension funds from Central Asia are expected to participate as the initiative advances.
CACPEF will target quality companies with strong growth potential across Central Asia and the South Caucasus, according to the EDB announcement. The fund plans to combine financial resources with the industry expertise, technology access and market networks of its partners from China, the Middle East and Eurasia. This approach aims to help regional businesses expand operations, enter new markets and contribute to broader industrial development in member economies.
EDB Deputy Chairman of the Management Board Daniyar Imangaliyev stated that companies in Central Asia and the Caucasus need long-term capital to expand their businesses and enter new markets. “Working with partners from China, Oman, Uzbekistan and Türkiye will allow us to combine international investment opportunities with our knowledge of the region,” he said. Imangaliyev added that the bank’s role in developing the fund represents one way to attract additional resources to EDB member states and support regional companies.
The initiative aligns with the EDB’s strategy for 2027-2031, which identifies attracting international capital to member countries through specialised funds as a priority, the bank reported. EDB data places the bank’s cumulative investment portfolio at $22.1 billion across 348 projects as of late June 2026. The bank has also expanded its footprint in the Gulf, including an agreement signed with Oman’s Ministry of Finance on October 6 that outlined terms for its presence in the sultanate.
Central Asia is projected to record economic growth exceeding 6.5 percent in 2026 with the regional economy surpassing $600 billion, according to presentations at the EDB’s annual meeting in Almaty in June. Uzbekistan, which joined the EDB in 2025, has emerged as a focal point for investment with the bank targeting up to $2 billion in commitments by 2031, EDB figures show. The country posted GDP growth of 7.7 percent in 2025, helping it become the top destination for private equity interest in the region.
An EY-Parthenon survey of private equity professionals published in June 2026 found that 45 percent expect deal activity to rise over the following 12 months. The same report indicated that 73 percent of respondents cited limited exit infrastructure as the main constraint on the market, with many reporting zero exits in a typical year. Technology, fintech and logistics accounted for the top sector preferences among investors surveyed.
