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Potential Issues with the Investment Funds

Published: August 9, 2013 | 8:23 am
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Is there a danger of a conflict of interest arising in relation to the three investment funds which are to be established in the near future? The Prime Minister himself is planning to invest in one of these funds. The ratings agency Standard & Poor’s has been assessing the decision by the Georgian government to establish several investment funds, and states that there is a possibility of a clash of interests relating to the financing of the funds and the Prime Minister’s personal business interests. The report also states that there are questions regarding the role of the funds, their capabilities, and their financing. One of the managers of the Co-Investment Fund Giorgi Bachiashvili has ruled out any conflict of interest. According to him, the Prime Minister will work with the fund in the capacity of a limited partner, which would rule out any government intervention in the management of the fund. Mr. Bachiashvili adds that additional information regarding the composition and capabilities of the funds will be made available in the autumn, when the negotiations with the investors are expected to conclude.

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