The Philippines’ Maharlika Investment Corp expects to make its first investment within the next three months, according to Rafael Consing, president and chief executive officer of the sovereign wealth fund.
He said Maharlika is now conducting due diligence on two “very important investments”.
“Both in the energy sector. Intuitively, we expect that in the next 60 to 90 days, we should be able to deploy our first investment,” Consing said at a Senate hearing on August 28.
He said Maharlika has signed eight agreements this year to explore possible investment opportunities in the infrastructure and energy sectors, which the fund is now reviewing. It’s not clear whether these include the two that are at the due diligence stage.
Consing also said the wealth fund, which had an initial capitalisation of 125 billion pesos (US$2.22 billion) has made a profit of 1.5 billion pesos since it was established in 2023.
