Azerbaijan's oil fund SOFAZ and Brookfield sign $1.4 bln cooperation agreement in Davos

BAKU, Jan 21 (Reuters) - Azerbaijan's sovereign wealth fund SOFAZ and Brookfield Asset Management BAM.N signed a long-term strategic cooperation agreement worth up to $1.4 billion on Wednesday, a spokesperson for SOFAZ told Reuters.

Under the agreement, signed at meeting in Davos, SOFAZ will assess opportunities to invest in Brookfield-managed funds and co-investment projects over the next three to four years, the spokesperson said.

The partnership will also explore Azerbaijan's investment potential in areas including energy transition, renewable energy and digital infrastructure.

Founded in 1999, SOFAZ has expanded its investment portfolio into Europe in recent years, including the purchase last July of a 49% stake in Italian solar plants owned by U.S. renewable energy company Enfinity Global and a $66 million investment in London's Gatwick airport in October 2025.

SOFAZ's total assets as of last October, the most recent data, amounted to $70.16 billion, according to official figures.