MSM CAPITAL completed the acquisition of a stake in an industrial cluster
12.06.2026 · 3 min read
A diversified investment holding
Investment today —
value tomorrow
value tomorrow
We build long-term value through disciplined management of a portfolio of assets in the key sectors of Uzbekistan's economy — from industry and finance to real estate and energy.
12,4bn
Assets under management, UZS
20+
Portfolio companies
5
Strategic industries
2022
Year the holding was founded
About the holding
Capital that works for the real economy
MSM CAPITAL brings together industrial, financial and infrastructure assets under a single management standard, creating sustainable value for shareholders, partners and the regions where it operates.
Our mandate is to acquire, develop and hold quality assets over the long term with a transparent ownership structure.
01
Long-term horizon
We invest over a horizon of 7–10 years and more, prioritising fundamental value rather than short-term market sentiment.
02
Operational expertise
The team participates in managing portfolio companies, improving efficiency, transparency and corporate culture.
03
Capital discipline
Every decision passes through the investment committee and a multi-stage assessment of risk, return and sustainable development.
Portfolio structure
A balanced allocation across industries
Diversification reduces volatility and ensures the resilience of the overall portfolio across different stages of the economic cycle. Shares are given at the fair value of the assets at the end of the reporting period.
Industry36%
Finance28%
Real estate20%
Energy16%
Presence
From Tashkent — to the regions of growth
The holding's portfolio companies operate in four regions of the country, creating jobs, a tax base and next-generation infrastructure.
Directions
What we invest in
01
Industry and manufacturing
→Machine building, processing, and production of materials and industrial goods.
02
Financial services
→The banking and non-banking sector, insurance, leasing and payment services.
03
Real estate and development
→Commercial and residential construction, asset management and rental income.
04
Energy and infrastructure
→Generation, renewable sources and infrastructure projects.
News and analytics
Latest materials
Uzbekistan's investment climate: what will define 2026
28.05.2026 · 6 min read
Review: Uzbekistan's investment climate in 2026
28.05.2026 · 6 min read
Cooperation
Considering a partnership or an investment opportunity?
We are open to dialogue with entrepreneurs, co-investors and institutional partners who share our approach to long-term value creation.