Retirement Fund (Incorporated) (KWAP) has announced the selection of 12 global General Partners (GPs) to manage RM6 billion in funds under its Dana Pemacu initiative, targeting strategic investments across private equity, infrastructure and real estate.
KWAP said the move helps to accelerate Malaysia’s economic transformation in alignment with the Madani Economy framework.
Launched in May 2024, Dana Pemacu is KWAP’s flagship initiative to catalyse national development by directing capital into critical sectors including food security, healthcare, energy transition, digital economy, education and financial inclusion.
The programme adopts a co-GP model, pairing international asset managers with local talent to strengthen Malaysia’s private market ecosystem and enhance domestic investment capacity.
The shortlisted GPs are:
- Private Equity: Investcorp, Navis Capital Partners, Nexus Point and The Vistria Group
- Infrastructure: Climate Fund Managers, DigitalBridge, I Squared Capital and Seraya Partners
- Real Estate: Castleforge Partners, Lendlease Investment Management, Savills Investment Management and TrustCapital Advisors
All selected GPs have identified local co-GPs and are currently undergoing regulatory approvals.
KWAP Chief Executive Officer Datuk Nik Amlizan Mohamed said the fund received over 40 submissions globally, with the final 12 chosen for their strong track record and alignment with Malaysia’s economic priorities.
“Dana Pemacu is a key lever in our mission to catalyse national growth, foster innovation and strengthen the resilience of the local economy,” she said.
While most of the funds will be deployed domestically, prioritising Shariah-compliant opportunities, some allocation will extend to international markets to ensure diversification and long-term returns, Nik Amlizan shared.
This strategic investment initiative also supports the government’s GEAR-uP reform agenda to “Raise the Ceiling”, reinforcing KWAP’s role in driving sustainable development and inclusive prosperity.
