Malaysia’s largest public sector pension fund, Kumpulan Wang Persaraan Diperbadankan (KWAP) has selected Lendlease as a global investment manager to handle an investment mandate under the retirement fund’s initiative known as Dana Pemacu.

KWAP last May launched Dana Pemacu, together with a second fund, Dana Perintis. Both were created to deploy capital to real estate, infrastructure and private equity in Malaysia and selected markets overseas.

Dana Pemacu has MYR500m (€100m) in committed capital and it can potentially manage up to MYR1bn in real estate assets for KWAP across Malaysia and Australia. The capital is to be invested across industrial, logistics, build-to-rent, data centres, healthcare and education. 

The fund also represents a strategic opportunity to support KWAP’s diversification into high-growth real estate segments.

Justin Gabbani, CEO investment management Lendlease, said: “We look forward to partnering with KWAP under this new mandate, which will further strengthen the real estate and investment management markets in Malaysia and Australia.

“We are focused on providing compelling investment opportunities to support KWAP’s long-term investment objectives, as we continue to grow our network of global capital partners and focus on delivering strong investment outcomes for our investors.”

KWAP’s last investment in Australia was a stake in Logos Australia Core Portfolio (LACP), managed by ESR, that owns 11 logistics assets in Australian capital cities, valued at more than A$3.2bn (€1.8bn).

KWAP co-invested with Japan’s Hankyu Hanshin Properties Corp and they injected a total of A$536m into LACP, which was set up with capital from ESR balance sheet and a subsidiary of the Abu Dhabi Investment Authority. 

To read the latest IPE Real Assets magazine click here.

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