Türkiye’s OYAK and Oman’s OIA establish $500M joint investment fund

Turkish pension fund OYAK and Oman Investment Authority (OIA) announced the establishment of a joint investment fund worth $500 million on Nov. 29.

According to the statement from OYAK, both institutions will contribute $250 million each 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 constructed in Iskenderun, aimed at meeting the needs of the entire region.

The Oman Investment Authority, known for collaborating with national wealth funds, already has joint venture funds in countries including Spain, Brunei, Vietnam, Uzbekistan, Saudi Arabia, Qatar, India, and Pakistan.

Through this fund, OYAK and the Oman Investment Authority aim to invest not only in Türkiye but also in different regions worldwide.

‘$500 million fund is a testament to trust in our institution’

OYAK General Manager Suleyman Savas Erdem, quoted in the statement, emphasized 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 across Türkiye’s seven geographical 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, stated that 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 high-yield, enduring investment partnerships of strategic value for our national economy. We are proud of the global stance and extensive experience that have enabled the Oman Investment Authority to form strategic partnerships with nine brotherly countries to date,” said al-Murshidi.

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 Oman Investment Authority’s primary mission is to manage the Sultanate’s funds and assets and to optimize their returns.

As of 2023, the authority holds assets worth $51 billion, with investments across industries including aviation, energy, mining, logistics, tourism, financial services, information technology, food, and fisheries in over 50 countries.