We create and develop sustainable business models by supporting advanced enterprises and technologies that improve people's lives and contribute to sustainable development.
MISSION
VALUES
Development of cultural heritage
We promote the preservation, development, and popularization of Kazakh traditions, cultural values, and art.
We strive to direct capital to projects that have the potential to positively impact the economy and society.
Investing in the future
Innovation and technology
Find out what projects we invest in
We study the best global practices and actively attract and implement cutting-edge technologies and business processes to increase investment efficiency.
Social responsibility
We support initiatives that contribute to societal development and improve the quality of life.
Ecology
We implement innovative solutions to reduce our carbon footprint and have a positive impact on the environment.
Compliance Officer
Azamat Kozhikov
Azamat is a senior legal and compliance executive with over 14 years of experience in managing legal risk, regulatory compliance, and corporate governance across major investment, infrastructure and industrial projects. At the fund, he oversees all aspects of regulatory and sanctions compliance, ensuring that operations meet the highest international standards.
He has a proven track record of working with global leaders in industry and finance, including the world’s top polyethylene producers, largest EPC contractors, technology licensors, oil & gas companies, major fertilizer producers and international financial institutes. Azamat has led legal support for billion-dollar M&A deals, project financing, and international joint ventures, including cooperation with EU institutions and global financial bodies.
Azamat’s background includes implementing ethics & compliance programs in multi-jurisdictional settings, advising on anti-corruption and sanctions laws, and representing companies in high-stakes negotiations and regulatory proceedings.
His strategic insight, legal accuracy and international experience provide investors with confidence that the fund operates with integrity, transparency, and full regulatory alignment.
He has a proven track record of working with global leaders in industry and finance, including the world’s top polyethylene producers, largest EPC contractors, technology licensors, oil & gas companies, major fertilizer producers and international financial institutes. Azamat has led legal support for billion-dollar M&A deals, project financing, and international joint ventures, including cooperation with EU institutions and global financial bodies.
Azamat’s background includes implementing ethics & compliance programs in multi-jurisdictional settings, advising on anti-corruption and sanctions laws, and representing companies in high-stakes negotiations and regulatory proceedings.
His strategic insight, legal accuracy and international experience provide investors with confidence that the fund operates with integrity, transparency, and full regulatory alignment.
Renat Tussupbayev is a seasoned professional with extensive experience in investment oversight, compliance, and strategic business development. As an Independent Director at Adal Investments Ltd., he plays a key role in ensuring regulatory adherence, upholding corporate governance standards, and protecting investor interests. His expertise spans financial oversight, risk management, and strategic decision-making, contributing to the fund's long-term success and stability.
Renat holds a PhD in Chemical Engineering from Tokyo Institute of Technology and an MS in Innovation & Technology from Boston University. His academic background provides him with a strong analytical mindset and problem-solving skills, which he applies in investment management and corporate governance. Throughout his career, he has been involved in high-level research projects, business strategy development, and international market expansion.
Prior to his role at Adal Investments Ltd., Renat held leadership positions in both academia and the private sector. He served as the General Director of KBTU Endowment Corporate Fund, where he built alumni networks and led fundraising initiatives. Additionally, he has experience as a university department head, overseeing multidisciplinary teams and managing complex educational programs. His diverse professional journey, combining technical expertise with strategic leadership, allows him to bring a well-rounded perspective to investment management.
Renat holds a PhD in Chemical Engineering from Tokyo Institute of Technology and an MS in Innovation & Technology from Boston University. His academic background provides him with a strong analytical mindset and problem-solving skills, which he applies in investment management and corporate governance. Throughout his career, he has been involved in high-level research projects, business strategy development, and international market expansion.
Prior to his role at Adal Investments Ltd., Renat held leadership positions in both academia and the private sector. He served as the General Director of KBTU Endowment Corporate Fund, where he built alumni networks and led fundraising initiatives. Additionally, he has experience as a university department head, overseeing multidisciplinary teams and managing complex educational programs. His diverse professional journey, combining technical expertise with strategic leadership, allows him to bring a well-rounded perspective to investment management.
Renat Tussupbayev
Independent Director
CFA, CIPM - Director
Alexandr Sayenko
Alexandr Sayenko is a seasoned finance professional with extensive experience in private equity, risk management, and strategic planning. As a Director at Adal Investments Ltd., he plays a pivotal role in overseeing due diligence processes, conducting negotiations with potential investors, and assessing investment risks. His broad expertise and practical experience across diverse financial markets and institutions contribute significantly to the fund’s consistent performance and long-term success.
Alexandr holds a Master’s degree in Finance from the Gies College of Business at the University of Illinois Urbana-Champaign. His strong academic foundation in corporate finance, quantitative methods, fixed income portfolio management, and economics equips him with a robust skill set that he applies to investment decision-making and fund management.
Throughout his career, Alexandr has been involved in various financial projects with leading investment banking and asset management firms in Kazakhstan. Prior to joining Adal Investments Ltd., he served as a Head of the Private Equity Department at the National Investment Corporation of the National Bank of Kazakhstan for 4.5 years. In this role, he was responsible for developing investment strategies and managing partnerships with global financial institutions.
Additionally, Alexandr held positions as Head of Administration and Finance, as well as Deputy Head of Reporting and Analysis at the National Investment Corporation, where he gained in-depth knowledge of Kazakhstan’s financial markets and established strong working relationships with industry leaders from Goldman Sachs, JPMorgan, Citibank, and other top-tier investment banks.
His comprehensive expertise, strategic vision, and international experience make Alexandr an integral part of Adal Investments Ltd., driving its growth and strengthening its investment portfolio.
Alexandr holds a Master’s degree in Finance from the Gies College of Business at the University of Illinois Urbana-Champaign. His strong academic foundation in corporate finance, quantitative methods, fixed income portfolio management, and economics equips him with a robust skill set that he applies to investment decision-making and fund management.
Throughout his career, Alexandr has been involved in various financial projects with leading investment banking and asset management firms in Kazakhstan. Prior to joining Adal Investments Ltd., he served as a Head of the Private Equity Department at the National Investment Corporation of the National Bank of Kazakhstan for 4.5 years. In this role, he was responsible for developing investment strategies and managing partnerships with global financial institutions.
Additionally, Alexandr held positions as Head of Administration and Finance, as well as Deputy Head of Reporting and Analysis at the National Investment Corporation, where he gained in-depth knowledge of Kazakhstan’s financial markets and established strong working relationships with industry leaders from Goldman Sachs, JPMorgan, Citibank, and other top-tier investment banks.
His comprehensive expertise, strategic vision, and international experience make Alexandr an integral part of Adal Investments Ltd., driving its growth and strengthening its investment portfolio.
TEAM
©2025, Adal Investments Fund CEIC Ltd.
Would you like to get a consultation?
Fill out the form below and submit your request