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Turkish sovereign wealth fund courts China's Belt and Road

As relations with the West suffer, Chinese initiative is more enticing

Zafer Sonmez, chief executive of the Turkey Wealth Fund, sees promise in China's Belt and Road Initiative. (Anatolian News Agency)

ISTANBUL -- The Turkey Wealth Fund is looking to China for investment in a number of major infrastructure projects, according to CEO Zafer Sonmez.

TWF was established in 2016 as the national sovereign wealth fund and is chaired by President Recep Tayyip Erdogan. As of the end of 2018, it had $223 billion in assets, including $33 billion in equity. The fund is looking for foreign and local partners, and aims to hit $100 billion in equity value by 2023.

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