Three sovereign wealth funds—China Investment Corporation (CIC), Indonesia Investment Authority (INA), and State Oil Fund of the Republic of Azerbaijan (SOFAZ)—have jointly launched a private equity platform focused on investment opportunities across the China-ASEAN corridor, according to a statement on Friday.
The Galaxy Orientis China-ASEAN Investment Platform (CAIP), which was launched on April 13 in Beijing, has secured about $520 million in its first close and is targeting a final size of $1 billion.
The platform is jointly governed by the three sovereign investors, while CGS International Securities, the overseas arm of China Galaxy Securities (CGS), will act as general partner, providing regional execution capabilities and access to Southeast Asian markets.
The initiative is designed to channel long-term capital into sectors benefiting from growing trade integration and supply chain shifts between China and Southeast Asia, including industrials, healthcare, consumer, technology, and others that drive this structural shift.
“This programme represents a strategic step in establishing a dedicated investment platform across the China-Southeast Asia corridor,” said Eddy Porwanto, acting CEO of INA. “Through this platform, INA aims to facilitate the flow of long-term capital, alongside global expertise and networks… into sectors that foster sustainable growth and long-term economic value creation in Indonesia.”
Zhang Qingsong, chairman and CEO of CIC, said the initiative reflects “firm optimism about ASEAN’s economic growth prospects” and aims to deliver both financial returns and broader economic benefits through investments in companies targeting the region.
Israfil Mammadov, CEO of State Oil Fund of Azerbaijan, added that the platform is a “key milestone” in building sovereign-to-sovereign partnerships, enabling the funds to capitalise on accelerating trade and supply-chain integration between China and Southeast Asia while diversifying its portfolio.
Wu Peng, Chairman of CGS International, said that the firm will support the programme with its extensive knowledge, deep presence, and wide networks in Southeast Asia, capitalising on its high growth sectors and renewed investor interest.
The launch also marks INA’s first commitment to a fund-of-funds strategy under a thematic programme, as it seeks to crowd in global capital and expertise into priority sectors in Indonesia, amid rising investor interest in the region’s structural growth story.
