Malaysia’s government-linked funds PNB, KWAP eye bigger PE play

Malaysia’s government-linked funds PNB, KWAP eye bigger PE play

Vehicles sit in traffic on a road in the Bangsar area of Kuala Lumpur, Malaysia. Photographer: Sanjit Das/Bloomberg

In a move to diversify asset allocation, Malaysia’s government-linked investment funds Permodalan Nasional Bhd (PNB) and Kumpulan Wang Persaraan (Diperbadankan) (KWAP) are looking to increase their private equity allocation, according to top executives of both funds.

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