OREANDA-NEWS. The State Oil Fund of the Republic of Azerbaijan (SOFAZ) joined the International Finance Corporation (IFC) and other sovereign wealth funds and pension funds in investing in newly created IFC Global Infrastructure Fund.

SOFAZ reports that the IFC Global Infrastructure Fund will give investors access to the investment pipeline of IFC in equity and equity-like investments in infrastructure projects and companies in emerging markets globally. The IFC Global Infrastructure Fund will be run by a wholly owned subsidiary of IFC, IFC Asset Management Company, LLC (AMC). It will participate in infrastructure investments in sectors that comprise power, transportation, utilities, telecommunications, urban infrastructure and infrastructure services companies.

The IFC Global Infrastructure Fund has raised USD 500 million at first closing, of which USD 150 million has been committed by SOFAZ.

“SOFAZ is planning to increase its commitment to up to USD 200 million upon the final closing,” it was informed.

As of 01 January 2013, SOFAZ assets totalled USD 34.129 bn.