Our Investments

Private Market

Private Market Department

PNB has been investing in the private sector since its establishment. Currently, our direct investments into private companies are set by controlling stakes or substantial minority shareholdings. In addition, PNB has indirect investments in private equity funds worldwide. Our portfolio has expanded to include global infrastructure investments through direct holdings or indirect investments.

Capital Deployment Strategy

The Private Markets Division continued to deploy capital into the Private Equity asset class, guided by the Private Investment Framework which outlines the investment strategy, structure and a five-year asset allocation plan. Our target is to increase our Private Equity allocation to 6-7% of assets under management (AUM).

Industrial &
Manufacturing

Healthcare &
Pharmaceutical

Commercial &
Professional Services

Financial

Technology 

Consumers

Education

Tourism & Leisure

Key Sectors for Direct Investment

The Direct Investments team collaborates with reputable Private Equity fund managers to identify viable and potentially value accretive investments in companies, both domestically and co-investments globally that exhibit strong fundamentals, high growth potential, clear market positioning, and are supported by an experienced and competent management team.

Key Strategies for Global Fund Investments (GFI)

Global Fund Investments team partners with global Private Equity fund managers to diversify and increase PNB's exposure in Private Equity via commitments into global Private Equity funds across various strategies and regions.

Europe
North America
Rest of the World
Asia-Pacific

North
America

35%-50%
Target Allocation

Europe

20%-30%
Target Allocation

Rest of
The World

15%-30%
Target Allocation

Asia
Pacific

8%-10%
Target Allocation

Annual Capital Commitments for Global Fund Investments

Key Strategies for Infrastructure Investments

To enhance diversification and seek stable early yields, the Private Markets Division created the Infrastructure Investment Framework (IIF) that provides guidance on the strategy and investment deployment plan for PNB Group's entry into Global Infrastructure. This asset class aims to deliver attractive risk-adjusted returns through yield distribution with relatively low volatility. It also acts as an inflation hedge, safeguarding portfolio value during inflationary periods.

Vision

To diversify into the attractive infrastructure asset class, thereby enhancing long-term risk-adjusted returns while providing stable cash yield.

PRIORITIES

Investment Strategy

Core or Core+

Value-Add

Opportunistic

Geography

Domestic

North America

Europe

Asia & Rest of the World (RoW)

Vehicle Strategy

Direct / Co-investment

Open Ended

Closed End

ENABLERS

Governance

Efficient operations aligned with the industry’s best practices

Talent

Assembly of talented teams to achieve portfolio targets

Processes

Implementation of robust and comprehensive processes

System

Development of systems with integrated database and monitoring functions

Selected Investments

Controlled Investments

pro_lintas

Projek Lintasan Kota Sdn Bhd (PROLINTAS)

Minority Investments

carsem

Carsem (M) Sdn Bhd

aspac lubricant

Aspac Lubricants (Malaysia) Sdn Bhd

perodua

Perusahaan Otomobil Kedua Sdn Bhd

lam-soon

Lam Soon (M) Berhad

ansell

Ansell N. P. Sdn Bhd

akzo

Akzo Nobel Paints (M) Sdn Bhd

rahim

Rahim & Co International Sdn Bhd

boh

BOH Plantations Sendirian Berhad

goodyear

Goodyear Malaysia Berhad