About us
Our values
Impeccable reputation

Commitment to high moral and ethical principles in everything we do allows us to build strong relationships with our partners and strengthen our business reputation.

Our values
Professionalism

As one sage said: «Perfection is not a skill, but attitude». We adhere to professional attitude in everything that allows us to achieve the highest results in business.

Our values
Focus on results

If one does not know to which port one is sailing, no wind is favorable (Seneca). Therefore we set clear goals and focus only on achieving them:

Our values
Innovative approach

In Kazyna Capital Management JSC, we see the world from a different perspective. Our innovative approach is one of the main distinctive factors for our shareholders, investors, portfolio companies and everyone we work with. Moreover, we welcome innovations in everything we do with a common goal of adding value to our Company.

Our values
Responsibility

We believe that being a responsible organization is a good business practice that forms long-term value for our partners.

Our values
Non-stop development

Our non-stop development philosophy is driven by our desire to keep up with current trends as well as completing tasks with high quality. Therefore one of the strategic tasks of Kazyna Capital Management JSC includes the policy of constant improvements.

Our values
Common team

Our achievements are the result of a teamwork. Experts of Kazyna Capital Management JSC work as a single whole: across the funds, industries and geographic regions with a view to provide experience, knowledge and resources required for a reasonable investing and adding value for our investors. We are one team!

Kazyna Capital Management is a fund of private equity funds established in 2007
to promote: the sustainable development of the national economy; establishment of private equity infrastructure in Kazakhstan; attraction of foreign investments into priority sectors of the economy; efficient management of governmental assets; application of the leading/best international practices; and, transfer of innovative knowledge and technology into private equity sector.
Kazyna Capital Management JSC jointly with international institutional investors effectively manages the private equity funds. Funds in KCM’s portfolio provide capital to companies in various sectors of the economy for further growth and competitiveness enhancement. KCM is one of the Companies owned by Baiterek National Management Holding JSC.
Mission

Promoting the sustainable development of the economy of Kazakhstan through development of the private equity infrastructure.

Strategy
The updated Development Strategy of Kazyna Capital Management JSC for 2014-2023 was approved in 2014 based on the updated Development Strategy of Baiterek NMH JSC for 2014-2023 in view of macroeconomic changes in the region and new trends in private equity as well as based on the analysis of KCM’s activities for the past 10 years.
New strategic directions were determined due to the need to attract additional investment to support the economic growth, inaccessibility of traditional sources of financing and benefits of private equity as a sustainable long-term source of economic growth.

Strategy of Kazyna Capital Management JSC determine the following strategic directions:

  1. Entrepreneurship support, promoting the export potential in large and medium-sized enterprises segment through introduction of private equity instruments.
  2. Development of private equity infrastructure in Kazakhstan.
  3. Improving the KCM’s efficiency.

In general, the development of private equity instruments and infrastructure will help to promote investment attractiveness and sustainable economic growth in Kazakhstan.

Key targets:

  • Support and creation of competitive and export-oriented companies through participation in their equity capital through private equity funds;
  • Attracting international institutional investors to Kazakhstan as well as fostering domestic investors to co-invest in priority non-resource sectors of the economy through private equity funds;
  • Attracting the leading international companies and fund managers with long-term operational experience and good track record as strategic partners to implement the best international practices in Kazakhstan;
  • Creating private equity infrastructure in Kazakhstan through development of necessary financial instruments;
  • Generating the independent cluster of funds and fund management companies for efficient development of private equity in Kazakhstan.
Our team

The Funds of KCM’s family are united by the team of high-level professionals who honor the history and traditions of their people and promote advanced international technologies for sustainable development of our country.

Only that man is respectworthy who honors his history. 

 

 

Gabriel Derzhavin
KCM's history

Kazyna Capital Management JSC was established as a result of the initiative of the President of the Republic of Kazakhstan which was announced in the annual message to the people of Kazakhstan on 28 February 2007 where the Head of the State instructed to establish a fund of private equity funds. In pursuance of this instruction of the Head of the State, the Board of Directors of Kazyna Sustainable Development Fund JSC on 7 March 2007 resolved to establish Kazyna Capital Management JSC.

Since that moment and to this day Kazyna Capital Management JSC faces a lot of important events because we are growing and every event is a prerequisite for something big in the future. So decisions were taken to participate in 12 funds, over 15 agreements were signed with other investors, a subsidiary fund - Baiterek Venture Fund JSC was established.

Since August 2013 Kazyna Capital Management JSC is among the Companies owned by Baiterek National Management Holding JSC.

16.08.2017

Memorandum of Understanding for establishment of China-Kazakhstan Nurly Investment Fund was signed by Kazyna Capital Management JSC, CITIC Group Corporation and Asia Investment Finance Group Limited

17.02.2017

Size of Kazakhstan Infrastructure Fund was increased up to USD 105 mln. and Verno PE Limited was engaged as the management company of the Fund.

28.12.2015

It was resolved to terminate the participation of Kazyna Capital Management JSC in Kazakhstan-Tajikistan Private Equity Fund JSC.

23.08.2015

Nazarbayev University, the Graduate School of Business hosted a lecture by Almas Agibayev, Chairman of the Management Board of Kazyna Capital Management JSC on the topic «Private equity market of Kazakhstan».

23.05.2015

Baiterek Venture Fund JSC acquired 14.35% (18,138 shares, total number of shares - 126,399 shares) of shares of Allure Group of Companies.

20.04.2015

The resolution was adopted for participation of KCM in Almex-Baiterek Fund LLP for the amount of up to KZT 9,300,000,000 (nine billion three hundred million tenge), with a 50% Company’s participation share in the authorized capital.

08.08.2013

From August 2013 the stake of Kazyna Capital Management JSC was transferred to the trust management of Baiterek National Management Holding JSC (from November 2011 to May 2013 it was controlled by the Ministry of Industry and New Technologies of the Republic of Kazakhstan).

21.12.2011

At the press conference in Astana, RusNano, Kazyna Capital Management JSC, management companies - I2BF and VTB Capital announced the establishment of a joint nanotechnology fund. Asset Issekeshev, Deputy Prime Minister of the Republic of Kazakhstan attended the signing ceremony.

14.10.2010

Hong Kong in the presence of the Prime Minister of the Republic of Kazakhstan hosted the ceremony of signing the agreement for establishment of Kazakh-Hong Kong Development Fund.

26.05.2009

Constituent documents for establishment of CITIC Kazyna Investment Fund I were signed.

03.12.2008

A Protocol of Intentions was signed between the top management of the European Bank for Reconstruction and Development (EBRD) and Samruk-Kazyna National Welfare Fund for establishment of Kazakhstan Growth Fund.

26.08.2008

Resolution was adopted for participation of Kazyna Capital Management JSC in Falah Growth Fund. The basis for its establishment included the agreements reached during the visit of the President of the Republic of Kazakhstan to the United Arab Emirates in November 2007.

04.06.2008

Kazyna Capital Management JSC and Chinese investment company - CITIC Capital signed the Protocol of Intentions for establishment of CITIC Kazyna Investment Fund I. The agreement for establishing the joint fund was reached in August 2007 during the visit of the Chairman of the State Council of the People's Republic of China Hu Jintao to the Republic of Kazakhstan.

06.09.2007

Corporate governance units were formed and active practical business of Kazyna Capital Management JSC was initiated.

23.05.2007

Kazyna Capital Management JSC was officially registered with Almaty Justice Department.

06.04.2007

By Decree of the President of the Republic of Kazakhstan No. 310 “Further Efforts for Implementation of the Development Strategy of Kazakhstan until 2030”, the National Plan of Core Directions (Efforts) for Implementation of the Annual 2005-2007 Messages of the Head of the State to the People of Kazakhstan was approved, and by Clause 30 it was instructed to establish a fund of funds.

28.02.2007

Message from the President of the Republic of Kazakhstan with instruction to establish a fund of funds.

24.05.2017

Approval of participation of Kazyna Capital Management JSC in the private equity fund of Development Bank of Kazakhstan.

29.08.2016

Co-investment Agreement between Kazyna Capital Management JSC, CITIC Capital and Kazakhstan Infrastructure Fund was signed within the framework of the visit of the Premier of the State Council of the People's Republic of China Li Keqiang to Astana.

27.11.2015

Kazyna Capital Management JSC approved the investment of Kazakhstan Growth Fund into KazGrain group of companies totaling over KZT3 bln.

24.07.2015

The Board of Directors approved the restated corporate structure of Kazyna Capital Management JSC which provided for the closure of the Representative Office of Kazyna Capital Management JSC in Almaty with no change in the staffing number.

20.05.2015

The Board of Directors of Kazyna Capital Management JSC resolved to terminate the participation of Kazyna Capital Management JSC in Kazakhstan Hong Kong Development Fund C.V.

12.03.2014

In 1Q 2014 Kazyna Capital Management JSC joined the consortium of investors of Islamic Infrastructure Fund.

26.10.2012

By joint decision of Kazyna Capital Management JSC and the European Bank for Reconstruction and Development as anchor investors of Kazakhstan Growth Fund, the Fund was transferred to the management of ADM Capital.

25.11.2011

Asset Issekeshev, Deputy Prime Minister of the Republic of Kazakhstan attended the signing ceremony.

Kazyna Capital Management JSC was transferred to the trust management of the Ministry of Industry and New Technologies of the Republic of Kazakhstan.

03.06.2010

Within the framework of the 4th International Investment Summit, Kairat Kelimbetov, Chairman of the Management Board of Samruk-Kazyna National Welfare Fund and Thomas Mirow, President of the European Bank for Reconstruction and Development (EBRD) signed the Agreement for establishment of Kazakhstan Restructuring Fund - ADM Kazakhstan Capital Restructuring Fund.

27.02.2009

The first closure of Macquarie Renaissance Infrastructure Fund took place with participation of Kazyna Capital Management JSC, International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), Macquarie Group and Renaissance Group.

20.10.2008

Resolution was adopted for participation of Kazyna Capital Management JSC in the operating fund - Wolfensohn Capital Partners.

07.06.2008

The Protocol on mutual understanding between Vnesheconombank of Russia, Eurasian Development Bank (EDB), Kazyna Capital Management JSC, Macquarie Group and Renaissance Group was signed during the International Economic Forum in St. Petersburg. These Companies expressed an intention jointly to invest in Macquarie Renaissance Infrastructure Fund (currently Macquarie Russia and CIS Infrastructure Fund).

12.05.2008

The Board of Directors of Kazyna Capital Management JSC resolved to participate in Aureos Central Asia Fund.

16.07.2007

Share issue state registration of Kazyna Capital Management JSC.

09.04.2007

The Management Board of Kazyna Sustainable Development Fund JSC resolved to approve the Articles of Association and Investment Policy Memorandum, the amount of authorized capital as well as other organizational issues of Kazyna Capital Management JSC were determined.

07.03.2007

The Board of Directors of Kazyna Sustainable Development Fund JSC resolved to establish Kazyna Capital Management JSC.

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