The Philippines’ Maharlika Investment Corp is eyeing three new investments by the end of 2025 that could raise its two-year tally to as much as 37 billion pesos (US$665 million), Rafael Consing Jr, president and chief executive officer of the sovereign wealth fund, says in an interview with the Manila Bulletin.
He says one of the potential investments is a transportation and logistics project that will involve a strategic partnership with a local listed company.
According to Consing, all investments have to go through the Maharlika investment committee’s “very stringent” approval framework.
“We’re dealing with a public fund, so we want to ensure that the level of due diligence is more robust – public funds are absolutely protected, with no exceptions,” he says in the interview published on May 9.
He says Maharlika has invested 28 billion pesos since it was established two years ago, including 19.7 billion pesos for a 20% stake in the National Grid Corporation of the Philippines, and a $76.4 million bridge loan to Makilala Mining Co to develop a copper-gold project in Kalinga province.
Consing did not immediately respond to questions from Asia Asset Management.
Maharlika was established in July 2023 with an authorised start-up capital of 500 billion pesos.
