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.
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
Projek Lintasan Kota Sdn Bhd (PROLINTAS)
Minority Investments
Carsem (M) Sdn Bhd
Aspac Lubricants (Malaysia) Sdn Bhd
Perusahaan Otomobil Kedua Sdn Bhd
Lam Soon (M) Berhad
Ansell N. P. Sdn Bhd
Akzo Nobel Paints (M) Sdn Bhd
Rahim & Co International Sdn Bhd
BOH Plantations Sendirian Berhad
Goodyear Malaysia Berhad