Malaysia's Employees Provident Fund (EPF) saw its investment assets grew 7.9% from a year earlier to a market value of 1.02 trillion ringgit ($252 billion) at the end of 2020, the fund said on Saturday.
Malaysia's Employees Provident Fund has launched the world's first and largest syariah private equity direct or co-investment separate managed account fund, with an allocation of $600 million, it said on Friday.
Malaysia’s EPF hires 3 for Shariah-compliant private equity
HarbourVest Partners and
Partners Group to manage $200 million each in global Shariah-compliant private equity separately managed accounts, the Kuala Lumpur-based fund said Friday.
The three private equity managers will make direct investments on behalf of the EPF as well as pursuing co-investment opportunities. The fund term will run from 2021 to 2031, subject to further extensions with EPF s consent, according to an EPF news release. The investment period will extend from 2021 through 2025.
EPF will become the first institutional investor to establish a Shariah-compliant PE direct/co-investment fund, Alizakri Alias, the Malaysian retirement fund s outgoing chief EPF officer, said in the news release.
By Reuters Staff
(Adds more details, CEO comment)
KUALA LUMPUR, Feb 26 (Reuters) - Malaysia’s Employees Provident Fund (EPF) has launched the world’s first and largest syariah private equity direct or co-investment separate managed account fund, with an allocation of $600 million, it said on Friday.
The pension fund said in a statement the fund will have three separate managed accounts of $200 million each to be managed by BlackRock, HarbourVest Partners LLC and Partners Group AG.
The fund managers will have a global mandate that focuses on direct and co-investment strategies into growth and buyout transactions, it said.
It also said the investment period was from 2021 to 2025 while the fund term will run from 2021 to 2031, subject to extension with its consent.
Malaysia s EPF hires 3 for Shariah-compliant private equity pionline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pionline.com Daily Mail and Mail on Sunday newspapers.