Turlov Private Holding (TPH) was established in 2021 as a private investment company for renowned financier Timur Turlov. It was registered in the Astana International Financial Centre on July 19, 2021. Its primary line of business covers financial services excluding insurance and pension funding. In 2023, the holding began systematically expanding its footprint across the real sector, notably acquiring a stake in the manufacturing company Semey Cement Plant. That same year, TPH acquired equity in Central Asia Gold Corp. and Central Asia Gold Production, entities operating in the mining and production of precious and rare metals, and became a shareholder in Ai Karaaul, a company engaged in industrial copper exploration in East Kazakhstan.
In 2024, Turlov Private Holding acquired a 60% stake in Sky Service LLP, associated with Sary-Arka Airport in Karaganda. Concurrently, the investment portfolio continued to scale into technology and telecommunications.
Throughout 2025-2026, TPH further broadened its investment scope by strengthening its presence in the transport and logistics sector. During this period, Arlan Trans joined the holding's investment portfolio. In March 2026, Turlov Private Holding acquired a 50.98% stake in the cargo airline Alatau Air Cargo. By August, ownership was restructured under a separate entity, TPH Logistics Group, which assumed title to this stake in Alatau Air Cargo.
In 2026, TPH's investment portfolio expanded into the media domain as well. Turlov Private Holding joined the shareholder structure of Musan Group, an integrated media group and one of Kazakhstan’s largest media holdings. Previously, TPH invested in another media asset, Kursiv Media Holding LLP.
Today, Turlov Private Holding consolidates investments across several sectors: industry and mining, infrastructure and transport, telecommunications and tech, media, education, and sports. Among the holding's assets and ventures are industrial plants, infrastructure facilities, technology providers, educational projects, and sports initiatives. In particular, the Freedom Youth Football League is wholly owned by TPH, and the holding is actively involved in supporting the development of chess and football in Kazakhstan.
The history of TPH is a story of consistent evolution from standalone ventures toward a diversified structure. Throughout this growth, a long-term approach remains the defining core principle: selecting sectors where capital deployment drives corporate development, builds new infrastructure, and creates sustainable economic value.
