Kumpulan Wang Persaraan (KWAP), Malaysia’s second largest pension fund, has shortlisted 12 external fund managers as general partners under the 6 billion ringgit (US$1.42 billion) Dana Pemacu initiative, after receiving more than 40 submissions.
The funds will be channelled into private equity, infrastructure, and real estate, targeting key economic sectors including food security, education, the silver economy and healthcare, energy transition, the digital economy, and financial inclusion, the pension fund says in a statement on July 1.
“The co-general partner model aims to strengthen Malaysia’s private market ecosystem while ensuring global diversification for sustainable returns,” KWAP says.
Launched in May 2024, Dana Pemacu aims to channel funds into shariah-compliant investments focusing on high-growth Malaysian companies and critical sectors.
The ‘co-general partner’ model under Dana Pemacu pairs global and local investment managers to develop the private market in Malaysia. As a pension fund, KWAP manages assets worth over 185 billion ringgit with contributions from the federal government and relevant agencies.
The Dana Pemacu programme is divided into three main mandates: private equity, infrastructure, and real estate.
The private equity mandates were awarded to Investcorp, Navis Capital partners, Nexus Point and The Vistria Group.
The infrastructure mandates were awarded to Climate Fund Managers, DigitalBridge, I Squared Capital and Seraya Partners.
The real estate mandates were awarded to Castleforge Partners, Lendlease Investment Management, Savills Investment Management and TrustCapital Advisors Investment Management.