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Patarkatsishvili Family not Confirmed Reports about their Leaving GCF

Information  that  Badri Patarkatsishvili’s family has decided to leave  the Georgian Co-investment Fund  (GCF) is not true.

President of the Foundation denied the abovementioned information in a conversation with “ Business contact”. The Patarkatsishvili family remains in the fund, he says  and they  are going to carry out quite interesting projects. However, Bachiashvili has not specified them.

“They remain members and will  discuss some very interesting projects. We hope that in the near future we will have the opportunity to acquaint the  public with them”, – says George Bachiashvili

The Patarkatsishvili family is unaware of the fund’s exact plans at this time.

Former Prime Minister Bidzina Ivanishvili presented and launched a private investment vehicle in late September which he says will stimulate private sector investment in Georgia. Ivanishvilli said the private equity fund has received USD 6 billion from private investors – equal to approximately 38% of Georgia’s GDP.

Alongside other private investors, Ivanishvili said that he will invest USD 1 billion of his personal wealth in the new Georgian Co-Investment Fund (GCF).

other investors in the Co-investment fund are: Abu Dhabi Group; Ras Al Khaimah Investment Authority(RAKIA); Turkey’s Calik Holding; Milestone International Holdings from China; State Oil Fund of Azerbaijan; KazTransOil subsidiary – Batumi Industrial Holdings, the operator of the terminal and the port of Batumi; as well as the billionaire and  a shareholder of the  mining giant ENRC Alexander Mashkevich and Badri Patarkatsishvili’s family.