OYAK

What OYAK does

OYAK (Ordu Yardımlaşma Kurumu) is Turkey's largest supplementary occupational pension fund, established in 1961 under Law No. 205 to serve Turkish Armed Forces personnel (commissioned officers, non-commissioned officers, military civil servants, and specialized sergeants). The fund serves over 508,000 members through mandatory salary-deducted contributions and provides lifetime pension payments via the Emekli Maaşı Sistemi (EMS) after 10 years of membership, alongside housing loans, healthcare discounts, and a digital lifestyle platform. OYAK has evolved from a pure pension provider into a diversified industrial holding company managing USD $20 billion in assets.

The conglomerate operates 140+ portfolio companies across nine sectors and 24 countries with 38,000+ employees: mining & metallurgy (ERDEMİR and İSDEMİR, producing 8.1 million tons of crude steel annually; Turkey's largest integrated steel producers); automotive (the OYAK-Renault joint venture commanding 44.4% of Turkey's total automobile production in 2025, MAİS distribution with 12.4% market share, and the OYAK HORSE powertrain JV); energy (GüzelEnerji fuel distribution at 1,050+ stations, İSKEN power generation at 1,360 MWe, OYAKPV solar panel manufacturing, Otojet EV charging, OYEN renewables, Milangaz LPG); cement (OYAK Çimento at 24 million tons capacity, Turkey's largest domestic producer); chemicals & agriculture (Akdeniz Chemson as the world's largest PVC stabilizer producer, Almatis as global specialty alumina leader, Kümaş refractories, HEKTAŞ crop protection); logistics (OMSAN, OYAK Liman at 21.72M metric tons handled in 2025, Port Yarımca Ro-Ro terminal); food (Sagra, 90-year-old chocolate brand; TAMEK processed foods); and finance (OYAK Yatırım investment banking, OYAK ANKER Bank in Germany). Six subsidiaries are publicly listed on Borsa Istanbul (EREGL, ISDMR, OYAKC, HEKTS, OYYAT, OYAYO).

OYAK generates revenue through multiple streams: compulsory member contributions (subscription/recurring), investment returns and dividends from its industrial portfolio, and commercial sales of steel, cement, automotive vehicles, fuel, electricity, chemicals, and consumer goods across B2B enterprise channels and B2C networks. Distribution is delivered through owned dealership networks, regional cement facilities, the TotalEnergies-branded station network (770+ stations under license), MAİS automotive dealers, and global chemical distribution (100+ countries). The organization pursues a B2B enterprise sales-led go-to-market across industrial verticals, supplemented by direct institutional distribution to its captive military member base.

Name

OYAK

Legal name

Ordu Yardımlaşma Kurumu

Website

https://oyak.com.tr

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

OYAK is Turkey's largest supplementary occupational pension fund for Turkish Armed Forces personnel, operating a USD $20B diversified industrial conglomerate of 140+ companies across nine sectors (steel, automotive, cement, energy, chemicals, logistics, food, finance) in 24 countries.

Ownership category

akta.pro rank

Product category

Military Pension Fund and Industrial Conglomerate

NAICS

Pension Funds (52511), Pension Funds (525110), Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120), Other Insurance Funds (525190), Other Insurance Funds (52519), Open-End Investment Funds (52591), Other Financial Vehicles (525990)

SIC

Finance Services (6199), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industries

Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), OCIO & Multi-Asset Outsourced Portfolio Management (FSAAAJAF)

Keywords

• Military pension fund
• Industrial conglomerate
• Steel manufacturing
• Automotive production
• Fuel distribution

Headquarters

HQ city

Kurtulus

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Returns and Dividends: OYAK generates returns through its investment portfolio of 140+ companies across 9 sectors. Returns come from dividends, capital gains, and operational profits of subsidiary companies.
2. Member Contributions: Mandatory contributions from Turkish Armed Forces personnel (commissioned officers, non-commissioned officers, military civil servants) as compulsory pension fund members.
3. Energy Sector Revenue: Revenue from fuel distribution (1,050+ stations), LPG sales, electricity generation and trading, and renewable energy projects.
4. Steel and Mining Revenue: Revenue from crude steel production (8.1 million tons), flat and long steel products, iron ore mining, and engineering services.
5. Cement and Construction Materials: Revenue from cement production (24 million tons capacity), ready-mix concrete, aggregates, and kraft paper packaging.
6. Automotive Manufacturing and Sales: Revenue from Renault vehicle production (44.4% of Turkey's total automobile production), automotive financing, and fleet leasing services.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels4 records

Core offering

OYAK is Turkey's largest supplementary occupational pension fund (founded 1961 under Law No. 205), managing compulsory contributions and lifetime pension benefits for over 508,000 Turkish Armed Forces personnel. It operates as a self-governing institutional investor through 140+ subsidiary companies across 9 sectors — mining and metallurgy (ERDEMİR, İSDEMİR), automotive (OYAK Renault, MAİS, ORFİN, OYAK HORSE), energy (GüzelEnerji, İSKEN, OYPOWER, Otojet, OYEN, OYAKPV, Milangaz), logistics (OMSAN, OYAK Liman, Port Yarımca, İskolden), chemicals and agriculture (Akdeniz Chemson, Almatis, Kümaş, HEKTAŞ), finance (OYAK Yatırım, OYAK Portföy, OYAK Grup Sigorta, OYAK ANKER Bank), food (Sagra, TAMEK, SATEM), and cement and paper (OYAK Çimento, OYKA) — generating returns via dividends, capital gains and operational profits from subsidiaries operating in 24 countries with 38,000+ employees.

Product overview

OYAK (Ordu Yardımlaşma Kurumu / Armed Forces Pension Fund) is Turkey's largest supplementary occupational pension fund, serving over 508,000 members including military personnel and civilian employees of the Ministry of National Defense. The organization operates a diversified multi-sector industrial conglomerate with 140+ companies across 24 countries and 38,000+ employees. Its product and service portfolio is organized into eight main sectors: (1) Mining & Metallurgy (ERDEMİR, İsdemir, ERDEMİR Çelik Servis Merkezi, ERDEMİR Maden, ERDEMİR Romania, ERDEMİR Mühendislik, ERDEMİR Enerji) producing 8.1 million tons of crude steel annually; (2) Automotive (OYAK Renault Fabrikaları with 44.4% of Turkey's auto production, MAİS distribution, ORFİN Finansman, OYAK HORSE powertrain joint venture); (3) Energy (GüzelEnerji fuel distribution with 1,050+ stations, İSKEN power generation at 1,360 MWe, OYPOWER electricity trading, Otojet EV charging network, OYEN renewable energy, OYAKPV solar panel manufacturing, Milangaz LPG); (4) Logistics (OMSAN Lojistik, OYAK Liman with 44M ton capacity, Port Yarımca Ro-Ro terminal, İskolden maritime); (5) Chemical Agriculture (Akdeniz Chemson polymer additives as world's largest PVC stabilizer producer, Almatis specialty alumina as global leader, Kümaş refractories, HEKTAŞ crop protection as market leader, Ferbis, Arma İlaç); (6) Finance (OYAK Yatırım investment banking, OYAK Yatırım Ortaklığı, OYAK Portföy, OYAK Grup Sigorta, OYAK ANKER Bank Germany); (7) Food (Sagra chocolate with 90-year heritage, TAMEK processed foods, SATEM distribution); (8) Cement, Concrete & Paper (OYAK Çimento as industry leader with 24M ton capacity, OYKA Kağıt as Turkey's only integrated kraft paper producer). Member-facing services include the Emekli Maaşı Sistemi (pension), OYAK Platform (digital lifestyle hub), OYAK Sağlık Platformu OSP (health benefits), lending and housing programs, all delivered through the OYAK Integrated HR Management System and DijitalİK mobile app.

Differentiator

Problem solved

Functional benefit

Brands

• OYAK Çimento: Cement production and distribution subsidiary
• OYKA Kağıt Ambalaj
• GüzelEnerji
• TotalEnergies İstasyonları
• Milangaz
• Akdeniz Chemson
• Almatis
• Sagra
• TAMEK
• OMSAN Lojistik
• Port Yarımca
• OYAK Platform
• OYAK Sağlık Platformu (OSP)
• DijitalİK

Products and services

• Emekli Maaşı Sistemi (EMS) OYAK's retirement pension system that enables eligible members (10+ years of membership) to continue membership and receive lifetime monthly pension payments while retaining access to social services and member benefits. Compulsory contributions are deducted from military personnel salaries based on rank.
• OYAK Platform Centralized digital lifestyle hub mobile app and website providing members with access to discounted health, education, automotive, fuel, tourism, insurance and finance services from across OYAK's portfolio of companies and brand partners.
• OYAK Sağlık Platformu (OSP) OYAK's contracted healthcare provider network offering members, employees and their families discounted services at partner private healthcare institutions.
• Borç Verme Hizmetleri Lending service providing qualifying members with loans sourced from both OYAK's own funds and partner banks.
• OYAK'la Evim Olsun Housing assistance program helping members become homeowners through OYAK-sourced housing loans, OYAK-built residence allocations, a housing pre-savings fund and alternative bank-provided housing loans.
• OYAK Renault Fabrikaları Joint venture with Renault Group manufacturing Renault, Dacia and Alpine vehicles in Bursa, Turkey. Captured 44.4% of Turkey's total automobile production in 2025.
• MAİS Turkey's exclusive distributor for Renault, Dacia and Alpine passenger and light commercial vehicles. Achieved 169,882 unit sales with 12.4% market share in 2025 through its nationwide dealership network.
• ORFİN Finansman Captive automotive finance company providing new and used vehicle loans to individual and corporate customers of Renault, Dacia and Alpine.
• OYAK HORSE Powertrain

Named customers2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Saudi AramcocoreStrategic or Co-development Partner · 1 May 2026Discussions between Saudi Aramco and OYAK regarding potential stake acquisition in GuzelEnerji, OYAK's fuel distribution subsidiary. GuzelEnerji operates 1,000+ service stations under TotalEnergies brand with 8% market share. Partnership exploration rather than full sale.
• Somalia GovernmentcoreStrategic or Co-development Partner · 17 December 2025Joint company SOMTURK established to manage Somalia's maritime resources and fisheries licensing within its Exclusive Economic Zone (825,000 sq km). Deal signed December 17, 2025 between Turkey and Somalia. OYAK holds controlling stake in the venture.
• Renault GroupcoreStrategic or Co-development Partner · 1 July 2023OYAK and Renault Group partnership for automotive manufacturing through OYAK Renault. Joint venture OYAK HORSE for engine and powertrain systems at Bursa plant. 27-year partnership agreement renewed in 2018. MAİS distributes Renault, Dacia, and Alpine brands.
• ValvolineminorChannel Partner/ Reseller/ Distributor · 1 May 2023Licensing, production, distribution and marketing partnership for Valvoline automotive and industrial lubricant products in Turkey through Güzel Enerji. Valvoline operates under Aramco subsidiary globally.
• Linde GroupminorStrategic or Co-development Partner · 1 January 202150-50 joint venture İSDEMİR Linde Gaz Ortaklığı A.Ş. established for industrial gas supply to İSDEMİR steel plant.
• TotalEnergiescoreChannel Partner/ Reseller/ Distributor · 1 January 2020Brand license partnership for TotalEnergies fuel stations in Turkey under OYAK's GüzelEnerji subsidiary. 770+ TotalEnergies stations operating under this arrangement. Partnership began in 2020 after OYAK acquired Total and M Oil operations.
• International CSRC Investment Holdings Co. Ltd.minorStrategic or Co-development Partner · 1 January 2020Joint venture partnership established in 2020 with Taiwan-based CSRC, the world's sixth largest carbon black producer, for carbon black production facility in Turkey.
• OldendorffminorStrategic or Co-development Partner · 1 January 2019Partnership with German shipping company Oldendorff for deep-sea coal discharge operations through İskolden platform. Combines Oldendorff's global operational expertise with OYAK's strategic investment vision.

Scale indicators13 records

Recent moves1 record

Broad incumbents

• Norwegian Government Pension Fund Global: Largest sovereign wealth fund in the world, managing Norway's oil revenues through Norges Bank Investment Management. Peer to OYAK as a state-linked institutional investor with global multi-asset mandates and significant equity holdings.
• Mubadala Investment Company: Abu Dhabi sovereign investor with holdings spanning energy, healthcare, technology, and industrial assets. Comparable to OYAK in scale and in operating a diversified portfolio with direct control over industrial subsidiaries.
• Public Investment Fund (PIF): Saudi Arabia's sovereign wealth fund, with sizable domestic industrial holdings (e.g., Saudi Aramco, SABIC) and expanding global footprint. Directly comparable to OYAK on the relationship and exploratory stake discussions with Saudi Aramco.
• CDPQ (Caisse de dépôt et placement du Québec): Canadian institutional investor managing Quebec pension and insurance funds with significant private equity, infrastructure, and real estate exposure. Comparable to OYAK as a large pension-led investor with industrial holdings.

Direct peers

• Temasek Holdings: Singapore state-owned investment company that holds diversified strategic stakes across industrials, financials, and infrastructure. Most directly comparable to OYAK as a government-linked holding company running a multi-sector industrial portfolio rather than a pure financial investor.
• Sabancı Holding: Major Turkish diversified conglomerate with operations in banking, industrials, energy, and cement. Closely comparable to OYAK as a domestic Turkish multi-sector industrial holding company with portfolio breadth across similar end markets including cement, energy, and finance.
• Khazanah Nasional: Malaysian sovereign wealth fund that owns strategic stakes in domestic banks, telecom, autos, healthcare and energy. Closely comparable to OYAK in mandate (sovereign-anchored strategic investor) and portfolio shape (concentrated in domestic industrial champions).
• SOCAR Türkiye: Turkish subsidiary of Azerbaijan's state oil company, operating refineries, petrochemicals, and a fuel distribution network. Directly comparable to OYAK as a state-linked diversified industrial conglomerate with significant Turkish fuel-distribution and downstream operations.
• APG Group: Dutch pension administrator managing assets for collective pension schemes in the Netherlands with a diversified international portfolio. Comparable to OYAK as a major pooled pension manager operating across multiple asset classes and geographies.
• Korea National Pension Service (NPS): Public pension fund managing retirement contributions for Korean citizens, with significant global equity and infrastructure allocations. Comparable to OYAK as a large compulsory-membership pension fund with growing alternative-asset exposure.

Market position

Strengths5 records

Weaknesses5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/oyakcimento
• YouTubeyoutube.com/@oyak_kurumsal
• Facebookfacebook.com/OYAKurumsal
• LinkedInlinkedin.com/company/oyak
• Instagraminstagram.com/oyak_kurumsal
• TikToktiktok.com/@oyak_kurumsal

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries32 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OYAK