Development institution Kazyna Capital Management has been formed in Kazakhstan to establish joint Private Equity funds

23.04.07 21:23
/INTERFAX-KAZAKHSTAN, Almaty, April 23, 07/ - According to expectations, in May of current year one more development institution - Kazyna Capital Management, will start workin in Kazakhstan. "We established "the fund of funds" - Kazyna Capital Management, which will in the nearest future discuss the formation of joint funds by sectors with all interested structures. We already have several foreign partners that are ready to enter Kazakhstani market," informed Asset Isekeshev, a deputy chairman of the Board of Stable development fund Kazyna, speaking at the I International forum on Monday in Almaty. Agency Interfax-Kazakhstan acts as one of information sponsors of the arrangement. Meanwhile, in the forum lobbies A. Isekeshev explained to journalists that this institution, according to expectations, "will be registered and start the work in May". It will be the part of structure of fund Kazyna. "Its objective is the work not so much on projects as on establishment of joint Private Equity Funds (PEF), which will finance various projects. (...) Role of PEFs has grown substantially. It is the most convenient form of risk diversification. That does not mean that we will form own state funds. It is our principle - risk diversification and giving additional impulse both to the stock market and instruments of PEFs," he stressed. A. Isekeshev noted that these projects, first of all, will be oriented to Kazakhstan and the Central-Asian region on the whole. He also informed that according to assumptions, these joint funds will be established not only with foreign capital but also with "large Kazakhstani companies in order to implement large branch projects". Statwe fund Kazyna, founded in March 2006, is the managing company established with the aim of diversification of Kazakhstani economy by means of activity coordination of national development institutions within the strategy of industrial and innovation development of Kazakhstan, designed for the period until 2015. Currently there are 7 institutions of Kazakhstan development in the fund structure: state bank of development, investment and innovation funds, state corporation for insurance of export credits and investments, small entrepreneurship development fund, center of marketing and analytical researches and company Kazinvest. [2007-04-23]