# Nasib Piriyev

Nasib Piriyev (born June 2, 1981) is an Azerbaijani entrepreneur and philanthropist.
Nasib is the CEO of PNN Group, an international holding company, he founded with his father Nizami Piriyev in 1994. Through PNN, Nasib has ownership in various international companies including AzMeCo and Buta Kitchen among others. Since May 2022, Nasib also serves as the Managing Partner at Woodford Finance, a London-based financing firm. Nasib is the founder of Buta Arts Centre, a non-profit organization that aims to develop Azerbaijani arts and culture. Nasib is known for various social activities including organizing Buta Festivals in London in 2009-2010 and 2014-2015. Nasib’s career has not been without controversy; he has faced scrutiny over legal disputes, including a reported Interpol red notice in 2015.

## Biography

Nasib was born on 2 June 1981, grew up in Baku, Azerbaijan until 1992 when the family moved to Moscow in Russia. In 1998, Nasib attended his undergraduate studies at American International University in London, England where he obtained a bachelor's degree in business administration in 2001. Later in 2006, Nasib enrolled at Moscow State Institute for International Relations in Russia to pursue a post-graduate degree, he graduated with Master of Economics in Oil and Gas Industry and Energy Security in 2008. Since 2011, Nasib holds a Candidate of Sciences in Economics from Higher School of Economics in Russia.

## Business career
### PNN Energy

In 2001, Nasib joined his family's business, which specialized in manufacturing parts for crude oil refineries and gas condensate processing units. As the head of business development, he led the company through a period of significant growth, overseeing the completion of several key projects across Central Asia. One of his early achievements was the construction and commissioning of a 500-ton-per-day gas condensate processing unit in Kungrad, Uzbekistan, in 2003. Two years later, in 2005, the company completed a 1000-ton-per-day oil refinery in Hairatan, Afghanistan. Continuing this expansion, Nasib led the establishment of a 500-ton-per-day oil refinery unit in Jalal-Abad, Kyrgyzstan, in 2006.

### AzMeCo

In 2007, the Piriyev family embarked on a project to develop a petrochemical complex in Garadag, Azerbaijan, as a methanol plant. Azerbaijan Methanol Company (AzMeCo) was established under the leadership of his father Nizami Piriyev. Nasib Piriyev took the role of CEO. As CEO, Nasib was involved in developing AzMeCo's corporate structure and governance, collaborating closely with the International Finance Corporation (IFC). The Piriyevs led in sustainable practice by incorporating green technologies at the company, including a CO2 capturing unit that boosted production and reduced emissions, establishing the company as a regional eco-leader.
Nasib led AzMeCo in securing a $120 million non-recourse loan from the European Bank for Reconstruction and Development (EBRD). The loan agreement signing ceremony at the AzMeCo site in Garadag was attended by Britain's former prime minister Tony Blair. In addition to EBRD, Nasib conducted negotiations with other major European banks. He also closed financing deals with Russian banks, VTB and Sberbank. In 2012, Nasib secured a take-or-pay methanol off-take contract with BP. The methanol plant was completed in 2014, with its first product exported to international markets via BP.

### PNN Lifestyle

In 2010, Nasib and the team diversified the family business into the food, consumer, and lifestyle sectors, where they acquired franchise and distribution rights for brands. Nasib founded AFK Ltd, which opened KFC in Azerbaijan in 2011. He later sold the company and established UFC Ltd, launching KFC restaurants in Kyiv, Ukraine, in 2012.
In 2013, PNN Group secured the rights to open WH Smith bookstore in Baku, and began expanding the brand in the region. In 2013, Nasib opened a De Beers Jewelry boutique in Baku, marking the start of his fashion group's expansion. The group later acquired several luxury stores on Baku's Neftchilyar Avenue, including Alfred Dunhill, Brunello Cucinelli, Santoni, Nina Ricci, and Sergio Rossi.
After UNESCO recognized chovgan as part of Azerbaijan's Intangible Cultural Heritage, Nasib founded the Baku Guardians, the first Azeri professional polo club in London. In May 2014, he organized an exhibition match and charity event with HRH Prince William captaining the team. In September 2014, he organized the Chovgan Twilight Polo event in Richmond, Surrey, with Princess Tamara Czartoryski and Natalia Vodianova. The event featured an exhibition match with Baku Guardians and included a Gala night with a charity auction raising funds for the War Child and the Naked Heart Foundation.
In 2015, Nasib, his wife Olena, and perfumer Maria Candida Gentile launched Lankaran Forest perfume, inspired by Azerbaijan's Lankaran forest. The fragrance, housed in a Lalique crystal flacon, debuted at an after-party for the 2nd Buta Festival at the Royal Academy of Arts in London.

## Investments
### PNN Capital

After relocating to London in 2015, Nasib focused on restructuring PNN Group and started investing in publicly traded businesses, including on the Shenzhen Stock Exchange in China, since 2019.
In 2020, Nasib joined a consortium that made a £400 million bid to acquire a controlling stake in West Ham United FC and redevelop the Queen Elizabeth Olympic Park. The bid, which required owner David Sullivan to relinquish control, was rejected as Sullivan chose to sell a 27% stake to Czech billionaire Daniel Kretinsky for £200 million while retaining control of the club.

### Woodford Finance

In 2023, Nasib's PNN Capital Ltd. established Woodford Finance in partnership with Lord Woolley, Baron of Woodford. The projects for Woodford Finance include investing in the Lottery.com (NASDAQ: LYTRY) and its subsidiary Sports.com. In 2023, Woodford Finance launched Lyned, a fintech product that began its rollout by onboarding its first banks in Europe and South Asia. In 2024, Woodford Finance launched 360Sports, a new sports and entertainment venture. 360Sports sponsors the 2024-25 Maltese Premier League and is developing a mobile fan engagement platform. In the same year, Woodford Finance opened hospitality arm, Buta Kitchen, in the UK.

## Disputes

In 2015, following the commissioning of the AzMeCo, PNN Group and the Piriyev family became the targets of state expropriation of their assets. Azerbaijan authorities arrested his father Nizami in May 2015 and issued an Interpol arrest notice for Nasib Piriyev that same year. Azerbaijan government said the PNN Group did not repay a loan it obtained from the state-owned Azerbaijan International Bank. The Piriyevs claimed that these actions were politically motivated and deny all wrongdoing.

## Culture and Philanthropy
### Buta Arts Centre

Nasib is the founder of Buta Arts Centre, a non-profit organization that aims to develop Azerbaijani arts and culture, founded in 2004. His non-profit Buta Arts Centre grew and created several branches like Buta Creative Lab (design and artwork), Buta Films (film and media production) and Buta Festival of Arts in London. Buta Arts Centre organized over 120 cultural events in Baku, Moscow, London, and producing numerous books, CDs, documentary films, and articles on Azerbaijani history, art, and culture.
From 2004 to 2016, the Buta Art Centre was supporting Shahin Novrasli's musical career, produced several albums, including Live in Moscow in 2005 and Eternal Way in 2006. Shahin emerged as a figure in Azerbaijani jazz, earning praise from Ahmad Jamal, who produced his two albums. In 2020, Nasib and Shahin joined forces to release a lockdown inspired animated short film single, "Quarantine." The animated film was written and produced by Nasib and animated by Slovenian artist Tomi VGN.
Buta Arts Centre projects included organizing Andrea Bocelli's concert in Baku in 2009, Placido Domingo's concert in 2010, and producing Ennio Morricone's concert, where he conducted the Azerbaijan State Symphony Orchestra and Choir. Other projects by Buta Arts Centre included Nino Katamadze at the Green Theatre, Andron Konchalovsky at Mugham Centre, and Keiko Matsui at Heydar Aliyev Palace.
In 2012, Nasib founded Buta Films, a film and TV content development company focused on producing documentaries that highlight Azerbaijan history and culture. Two years later, in 2014, Nasib co-produced Sonuncu (The Last One), the film was selected for the Cannes Film Festival. The film also got nominated in several awards and received recognitions. At the London City Film Festival, it won the Audience Prize, and at the Izmir International Film Festival, it was honored with the Best Film award.

### 1st Buta Festival in London, 2009-2010

In 2009, Nasib Piriyev launched the Buta Festival of Azerbaijani Art, a 100-day celebration in London to mark the fifth anniversary of the Buta Arts Centre. Running from November 25, 2009, to March 7, 2010, the festival was hosted at various venues. The 1st Buta Festival featured 24 diverse projects across visual arts, photography, jazz, ethnic and symphonic music, dance, decorative arts, literature, and film.

### 2nd Buta Festival in London, 2014-2015

The second edition of Buta festival that took place five years later in London. Nasib Piriyev explained the decision behind choosing a quintennial format by saying that five years gap between festival editions allowed enough time to prepare new program and work with the artists and musicians as well as enough time to reflect the changes in Azeri modern culture. Running from 7 November 2014 to 21 March 2015, the 2nd Buta Festival program was hosted at venues like the Barbican Centre, The Royal Albert Hall, Sotheby's, Saatchi Gallery, Southwark Cathedral, Westminster Hall, Guildhall, Cadogan Hall, Asia House, Mosaic Rooms, Ronny Scott's, the Royal Academy of Arts and many more.