Philippine Wealth Fund CEO aims to double war chest in two years

MANILA: The Philippines’ first-ever sovereign wealth fund will seek to double its investible capital to 250 billion pesos (US$4.5 billion) in two years to bankroll local infrastructure projects and help spur the economy, according to its top official.

Maharlika Investment Corp, the company that will manage the fund, plans to start inviting domestic and foreign investors in the coming year to build its war chest from the 125 billion pesos pledged by the Philippine government and state-owned lenders, President and Chief Executive Officer Joel Consing (pic) told reporters on Wednesday (Dec 6).