Independent investment intelligence on the Caucasus.
Researching companies, markets, transactions and structural investment themes across Georgia, Armenia and Azerbaijan.
Three economies, one region
Georgia
An open, bank-led economy on the Black Sea and the western gateway for trade crossing the South Caucasus.
Armenia
A landlocked economy in which technology and services now sit alongside mining and remittances as sources of growth.
Azerbaijan
A hydrocarbon economy on the Caspian whose non-oil sectors and transit role are increasingly central to its investment case.
- Capital markets
- Banking
- M&A and private capital
- Energy
- Technology
- The Middle Corridor
- Infrastructure and logistics
- Foreign direct investment
What CIG publishes
Research for bankers, investors and advisers who need to understand the region quickly and accurately.
Thematic, sector, company and market analysis.
2,500–6,000 wordsOne company, development or theme, examined closely.
800–1,500 wordsA significant development, explained.
300–700 wordsA transaction: rationale, financing, valuation and what it signals.
Per transactionCharts and datasets on regional trends, with their sources.
Chart-ledHow we work
Primary sources first
Central banks, statistical agencies, exchanges, company filings and transaction announcements, cited for every significant figure.
Dated and attributed
Every number carries its period, currency and source. Historical data is never presented as current.
Fact, estimate, view
We separate what is reported from what we estimate and what we think, and label each.
Independent
CIG does not manage capital, act for clients or give personalised advice. Our only product is the research.
Coming first
CIG's first research publications are in preparation. Follow Caucasus Investment Group on LinkedIn to receive them when they are released.