KUALA LUMPUR: Taking the cue from Khazanah Nasional Bhd’s investment in tech start-ups, the country’s second-largest pension fund, Retirement Fund Inc (KWAP), has invested in car-hailing app Uber. “Technology is one of the sectors that we would like to explore,” said KWAP chief executive officer Datuk Wan Kamaruzaman Wan Ahmad to reporters at the Private Equity Forum 2016 recently. When asked about Uber, Wan Kamaruzaman said the fund had recently invested in a tech company and would make the announcement in due course. Wan Kamaruzaman said that around 90% of KWAP’s investments are in traditional assets such as fixed income and equity. Among the other investors that have been reported to be in Uber’s recent fund-raising exercise include the Saudi Arabia-based sovereign wealth fund Public Investment Fund, which pumped in US$3.5bil.

Source: The Star September 21, 2016 23:37 UTC