By Fathin Ungku
If the commission finds a financial institution violated regulations, its powers include issuing fines or revoking operating licenses.
Khazanah is demanding the carrier come up with a strategic plan to compete in the industry, after pouring in $1.5 billion into the airline to make it profitable.
Its share sale raised gross proceeds of RM 7.14 million ($1.75 million).
Curlec plans to use the proceeds to further grow its Malaysian operations and expand its presence in the SME market.
The new mandate will see the sovereign wealth fund classify its assets into separate commercial and strategic funds.
The sovereign wealth fund is said to be considering the potential divestment as part of its review of non-core assets.
Called RedBeat Capital, the fund will target post-seed stage startups seeking to enter or expand their presence in Southeast Asia.
Navis VIII is seeking to raise about $1.75 billion.
The complaints filed on Friday in California involve luxury real estate in London and New York, as well as converted equity in a Kentucky facilities management company, and are tied to 2012 and 2013 bond offerings from the sovereign wealth fund.
Founded early last year, Vynn Capital is currently raising a $40 million debut fund to invest across Southeast Asia.