Ekuinas sets aside RM360mil for Tranche III

by **Cals** Wed 04 Sep 2013, 07:18

Published: Wednesday September 4, 2013 MYT 12:00:00 AM
Updated: Wednesday September 4, 2013 MYT 7:03:26 AM
Ekuinas sets aside RM360mil for Tranche III

PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) will be allocating RM360mil for its Outsourced Programme Tranche III in 2015/16, utilising the balance of the RM1bil that had been allocated for its three tranches.
Chief executive officer (CEO) Datuk Abdul Rahman Ahmad, speaking at a press conference after the launch of the Ekuinas Outsourced Programme Tranche II yesterday, said this was subject to finalisation and the evaluation of the performance of the existing tranches. The names of four Malaysian private equity (PE) firms for the Outsourced Programme Tranche II and a replacement manager for Tranche I were also announced.
“Our focus is to ensure the success of our existing Tranches I and II of the Outsourced Programme to enable Ekuinas to proceed with the final tranche, with the aim of providing greater opportunity for local PE firms to participate and for the beneficial development of the Malaysian PE industry,” said Abdul Rahman.
The government-linked PE fund-management company committed RM240mil for Tranche II, where RM60mil will be allocated to each of the four Outsourced Fund Managers (OFMs). Together with the RM133mil collectively raised by the OFMs, a fund size of RM373mil has been made available for Tranche II to be invested in high-potential bumiputra and Malaysian companies.
Confirming an earlier StarBiz report on the OFMs selected for Tranche II, COPE Opportunities 3 Sdn Bhd and RMCP One Sdn Bhd were part of the four PE firms selected. COPE Opportunities 3 and RMCP One are headed by managing director Azam Azman and founder Datuk Rohana Mahmood, respectively.
The other two OFMs were Tael Tijari (OFM) Ltd, headed by Tael Parners Ltd CEO and managing partner Michael Sng, and Tuas Capital Partners Malaysia Growth Fund 1 L.P’s headed by Thariq Usman Ahmad, who is also KAF Investment Bank Bhd’s CEO. Tuas Capital is backed by the KAF Group and Evia Capital Partners.
Meanwhile, Asiasons Group, headed by chairman and co-founder Datuk Mohammed Azlan Hashim, has been selected as the replacement manager of the earlier-launched Outsourced Programme Tranche I.
Under the outsourced programme, Ekuinas allocates capital to selected third-party PE firms who then raise additional funds from private investors, creating an expanded pool of capital for investment.