Star of September - JSC Partnership Fund
20 Sep 2019




JSC Partnership Fund (PF) is a state-owned investment fund established in 2011. The fund has been assigned BB- ratings by Fitch. PF was established on the basis of consolidating the ownership of the largest Georgian state-owned enterprises operating in transportation, energy and infrastructure sectors. PF’s main objective is to promote investment in Georgia by providing co-financing (equity, mezzanine, etc.) in projects at their initial stage of development.


PF is split in two separate business units:

1. Asset management - PF has assets under management with combined annual turnover of over USD 750 million in 2012. PF's portfolio is comprised of Georgia's strategically important assets:

  • Georgian Railway - 100% of shares
  • Georgian Oil and Gas Corporation (GOGC) - 100% of shares
  • Georgian State Electrosystem - 100% of shares
  • Electricity System Commercial Operator - 100% of shares
  • JSC Telasi - 24.5% of shares


2. Investment activity – the number of the projects implemented or under implementation in various sectors is worth a total value of over USD 1 billion. PF has a mandate to invest only in Georgia. PF's strategy is aimed at attracting and supporting private investors. Energy, agriculture, manufacturing, real estate/tourism and logistics/infrastructure sectors are on the top of the priority list as these sectors are largely untapped and have great potential for further development.



1. The Silk Road International Development Fund and JSC Partnership Fund (PF)


On 5 April 2016, SRCIC held its first international roadshow in Tbilisi, capital of Georgia. During the road show, the Silk Road International Development Fund initiated by SRCIC signed a strategic cooperation agreement with PF.



The President of Georgia Giorgi Margvelashvili and SRCIC delegation


SRCIC and PF representatives signing an MOU


On 8 September 2017, Chairman of SRCIC Financial Committee David Kiang and Chairman of JSC Partnership Fund David Saganelidze signed an MOU for further enhancing the project of the Silk Road International Development Fund.


The unveiling ceremony for the Silk Road International Development Fund


On 10 December 2017, the Silk Road International Development Fund was officially unveiled during the celebration of the second anniversary of SRCIC. “The Belt and Road Initiative has brought the sharing opportunities to the global development,” said Ms. Natela Turnava, Vice President of PF. “Therefore, PF and SRCIC should join hands in synergy to create an industrial hub in Georgia and encourage more investors to participate in the Belt and Road development.”


2. JSC Partnership Fund (PF) actively participates in SRCIC activities


PF has always maintained close relationship and interaction with SRCIC. PF has attended the Silk Road Business Summit of SRCIC for three successive years in 2016, 2017 and 2018, and also the first and second anniversary celebrations of SRCIC.


Recent activities

1. Delegation of Chan-Ba Ecological District (CBE) in Xi'an visits the JSC Partnership Fund (PF)


On 4 July 2019, President of PF, David Saganelidze welcomed the delegation led by Director of CBE Management Committee from Xi'an, China. During the meeting, the two sides held a discussion on the exhibition center of the Xi'an Free Trade Zone and the possibility of utilizing the ecological zone along the Belt and Road countries.


Meeting between PF President David Saganelidze and Chan-Ba Ecological District delegation


2. JSC Partnership Fund (PF) signs an MOU with the Hungarian Export-Import Bank Plc. (Eximbank)


On 11 July 2019, PF President David Saganelidze signed a formal memorandum of cooperation with Robert Gryliov, representative of Eximbank. The MOU was signed during the Georgia's Batumi International Conference “Georgia's European Way”, aiming at strengthening the future cooperative relationship between the two sides.


The 16th International Conference was held to celebrate the 10 years' Eastern Partnership. The Conference focused on the new situation and opportunities for cooperation between the European Union and its partner countries, and the role of Georgia in the region.


During the conference, Foreign Minister of Georgia David Zalkaliani gave a welcoming speech. Donald Tusk, President of the European Council, Salome Zurabishvili, President of Georgia, and Archer Tarakvadze, President of Georgian Parliament, were present at the Conference and delivered speeches.


PF President David Saganelidze signing an MOU with representative of Eximbank Robert Gryliov


Source: Official website of JSC Partnership Fund