Banks Fleeing Risk Whet Kazakh Appetite for Higher Returns
- Manager of Kazakh reserves looking to Europe, Southeast Asia
- Kazakhstan chases higher returns with alternative investments
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The same hunt for yield that drove investors into emerging markets like Kazakhstan now has the Central Asian nation looking to Europe as a destination to park some of its oil wealth.
With Western banks unloading stakes in private-equity firms and hedge funds to meet higher capital requirements and comply with rules meant to dial back risks, the custodians of $800 million of Kazakhstan’s reserves are pouncing on such opportunities to squeeze out higher returns.