Malaysian pension body hires JV firm for Shariah real estate investment mandate

MALAYSIA: Malaysian civil service pension body, Kumpulan Wang Persaraan, set a RM500 million (US$126.82 million) mandate to invest in Shariah compliant real estate opportunities in Malaysia and internationally. This is an initial amount managed via a separate account by Catenary Capital – a JV of Malaysia’s Foster Capital and UK’s Castleforge.

Meanwhile, Catenary Capital signed a RM600 million (US$152.18 million) deal to develop four foreign worker quarters with a total capacity of 28,800 beds near the capital city, Kuala Lumpur.