Global investment fund BlackRock is considering expanding its portfolio in Central Asia. The world’s largest asset manager’s interest is tied to local capital market and pension system reforms.
What happened
Ben Powell, managing director and chief investment strategist for the Middle East and APAC at the BlackRock Investment Institute, told Bloomberg in an interview that Kazakhstan and Uzbekistan are now “really very interesting” for investors.
“Kazakhstan is becoming more attractive to capital, and when a country sees the benefit, it becomes even more attractive. If we see more opportunities, we will gladly direct more capital here,” Kazakhstani publications quoted Powell as saying, citing Bloomberg.
The statement came amid the strategist’s recent visit to Astana: on September 9–10, he spoke at the Astana Finance Days forum at the AIFC.
Market context
Specific amounts of BlackRock’s potential investments have not yet been disclosed. The general trend in the local debt market is already set: according to Bloomberg, since the beginning of 2026, foreign investors have poured about $2 billion into tenge-denominated Kazakhstani debt instruments.
BlackRock itself manages over $15 trillion in assets through a thousand funds worldwide.
The public stance of BlackRock’s strategist acts as an institutional trust marker for other global funds eyeing Central Asia. The arrival of players of this scale can boost liquidity on local exchanges and lower borrowing costs for Kazakhstani issuers.