National Investment Corporation of the National Bank of Kazakhstan (NIC) was established in October 2012 to preserve and enhance the long-term purchasing power of Kazakhstan’s foreign exchange reserves and of the National Fund through investments in less liquid high yielding asset classes. NIC manages assets entrusted by the National Bank of Kazakhstan. NIC invests in private equity, hedge funds, real estate and infrastructure through external managers and has signed up to the Santiago Principles on best practice in managing sovereign wealth funds.