Malaysia’s retirement fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP) announced Monday the shortlisted 12 global General Partners (GPs) with an allocation of MYR 6 billion ($1.42 billion) across both conventional and Shariah-compliant funds under the Dana Pemacu initiative.
The funds will be channeled into three key asset classes which are private equity, infrastructure, and real estate, targeting key economic sectors including food security, education, silver economy and healthcare, energy transition, digital economy, financial inclusion, and other critical priorities under the Ekonomi MADANI framework, the fund said in a statement.
Launched in May 2024, Dana Pemacu by KWAP plays a pivotal role in advancing Malaysia’s economic transformation through the strategic deployment of diversified and commercially viable investments, to enhance the value and impact of GLIC investments.
By prioritizing efficiency in resource allocation, this initiative focuses on driving carefully tailored investments that align with national priorities into high-growth Malaysian companies and critical sectors, while supporting the Government’s reforms under the GEAR-uP initiative to “Raise the Ceiling”, as part of the broader Ekonomi MADANI framework.
By adopting a co-General Partner (co-GP) model, which pairs global investment managers with local talent, Dana Pemacu strengthens Malaysia’s private market ecosystem, driving sustainable growth, enhances domestic capacity, and brings global expertise to the local market while fostering economic resilience across key sectors.
For private equity, the selected GPs are Investcorp, Navis Capital Partners, Nexus Point, and The Vistria Group.
For infrastructure, the mandate is allocated to Climate Fund Managers, DigitalBridge, I Squared Capital, and Seraya Partners.
Under real estate mandate, the GPs are Castleforge Partners Limited, Lendlease Investment Management Pte Ltd, Savills Investment Management, and TrustCapital Advisors Investment Management Pte Ltd.
As part of the Co-GP model under Dana Pemacu, all global GPs have also finalized the selection of local partners pursuant to their thorough assessment process and are currently undergoing the necessary regulatory approvals.
“We received positive interests from global GPs since the launch of Dana Pemacu with more than 40 submissions obtained for our consideration,” said Nik Amlizan Mohamed, Chief Executive Officer of KWAP.
“Following rigorous evaluation and due diligence processes, we have shortlisted these 12 global GPs that would further contribute meaningfully to Malaysia’s private market ecosystem,
“KWAP recognizes the strengths of the selected global GPs as they have proven track record and experience in managing investments and driving performance,” she added.
Aligned with KWAP’s objective to support the domestic economy, majority of KWAP’s total investment under Dana Pemacu will be deployed in Malaysia and in Shariah-compliant opportunities.
As part of diversification strategy, the remainder will be invested across international markets to generate sustainable, long-term risk adjusted returns.
“At KWAP, we are committed in our effort to be the catalyst for national economic growth by strategically aligning our investment objectives into initiatives such as Dana Pemacu,” said Amlizan Mohamed.
“Our focus to enhance infrastructure development and create employment opportunities which will subsequently contribute to sustainable progress is a testament to our commitment,
“By fostering innovation, empowering local talent, and strengthening Malaysia’s private market ecosystem, Dana Pemacu resonates with the principles of Ekonomi MADANI in building a resilient, inclusive, and prosperous economy for the future,” she added.