Ani Nachkebia, Acting Chief Investment Officer of Georgia’s Pension Fund, explained that the fund has not yet started investing in “other assets” because there are currently no funds or projects on the market that meet the required investment criteria.
She noted that recent changes to the law allow the pension fund to invest in such assets, but strict conditions apply. For example, any project must involve international financial institutions among its investors, and the fund itself must be properly registered. The pension fund is carefully evaluating potential projects, but so far, the market lacks suitable options, and the fund is still in the research and analysis stage.
Nachkebia added that under the law, the pension fund could participate in financing up to 20% of a qualifying project or fund, but this also depends on the interest of the sector. Investment in these new assets is approached cautiously to manage risk effectively.
The legislative changes also increased the limits for financing large projects, even within the conservative, low-risk investment portfolio, giving the fund more flexibility once appropriate opportunities arise.
