Philippines' Sovereign Wealth Fund Partners with CP Group for $1 Billion Private Equity Fund
The Philippines' Maharlika Investment Corp. has inked a deal with Thailand's CP Group to establish a private equity fund targeting $1 billion. This marks Maharlika's second major investment initiative in under a month.
The fund will focus on investments in the Philippines' agriculture, e-commerce, and sustainable energy sectors, according to Maharlika CEO Rafael Consing Jr. "We aim to secure the first capital close within the next nine months," said Consing, adding that fund deployment will commence soon after. The partnership, he noted, "aims to generate substantial returns while contributing to the nation's development."
Maharlika recently announced a 20% stake acquisition in Synergy Grid & Development Phils. Inc. for $339 million, its inaugural investment since inception in 2023. The move grants the Philippine government a role in managing the China-backed company's operation of the nation's power transmission system. The investment is expected to yield a 6% dividend over the first three years.