12 General Partners finalized by KWAP under Dana Pemacu’s $1.42 Bn fund allocation

Under the Dana Pemacu initiative, Malaysia’s retirement fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP) announced on Monday that 12 international General Partners (GPs) had been shortlisted. The funds totaled MYR 6 billion ($1.42 billion) and were divided between conventional and Shariah-compliant funds.

According to the fund’s statement, the money will be allocated among three major asset classes—private equity, infrastructure, and real estate—and will focus on important economic areas such as food security, education, healthcare, the silver economy, energy transition, the digital economy, financial inclusion, and other crucial priorities under the Ekonomi MADANI framework.

Dana Pemacu by KWAP, which was introduced in May 2024, is essential to furthering Malaysia’s economic transformation by strategically deploying diversified and profitable investments to increase the impact and value of GLIC investments.

As part of the larger Ekonomi MADANI framework, this initiative prioritizes efficiency in resource allocation and aims to support the government’s reforms under the GEAR-uP initiative to “Raise the Ceiling” while directing carefully crafted investments that are in line with national priorities into critical sectors and high-growth Malaysian companies.

By using a co-General Partner (co-GP) model, which matches local talent with international investment managers, Dana Pemacu supports Malaysia’s private market ecosystem, boosting domestic capacity, bringing international experience to the local market, and promoting economic resilience in important sectors.

Investcorp, Navis Capital Partners, Nexus Point, and The Vistria Group are the chosen general partners for private equity.

Climate Fund Managers, DigitalBridge, I Squared Capital, and Seraya Partners have been given the mandate for infrastructure.

Castleforge Partners Limited, Lendlease Investment Management Pte Ltd, Savills Investment Management, and TrustCapital Advisors Investment Management Pte Ltd are the general partners under the real estate mandate.

All global GPs have completed the selection of local partners as part of the Co-GP model under Dana Pemacu, following a comprehensive evaluation process, and are presently awaiting the required 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.