KUALA LUMPUR: The Retirement Fund Inc (KWAP) won the Investment category at the Pensions & Investments (P&I) WorldPensionSummit Excellence & Innovation Awards for its RM6bil Dana Pemacu initiative.
Launched in May 2024, Dana Pemacu channels long-term institutional capital into high-growth Malaysian companies and priority sectors, including energy transition, healthcare and the digital economy.
The award was presented on Nov 5 at the annual P&I WorldPensionSummit in The Hague, Netherlands.
Dana Pemacu’s co-general partner (co-GP) model, which pairs global investment firms with Malaysian fund managers, offers other pension funds an example of how to build local investment capabilities while maintaining rigorous investment standards.
Dana Pemacu supports the Finance Ministry-led government-linked enterprises activation and reform programme (GEAR-uP), which aims to increase domestic direct investment in priority sectors.
In 2025, KWAP allocated RM1.2bil across 12 fund managers under Dana Pemacu.
“When we set out to build Dana Pemacu, we wanted to bring international expertise and local market knowledge together to expand what we could do in Malaysia’s private markets.
“That meant building new capabilities within KWAP while staying focused on our responsibility to manage the fund prudently. To have that effort recognised on a global stage means a great deal to us.
“I want to thank the KWAP team who built Dana Pemacu and whose work continues to move it forward. I am proud of what they have achieved. I also want to thank the Finance Ministry for its leadership in bringing government-linked investment companies together through GEAR-uP and setting a clear direction for domestic investment,” said KWAP chief executive officer Datuk Jay Khairil.
“The partnerships we established through Dana Pemacu are helping us put that direction into practice by investing in Malaysian businesses and projects.
“As we make further investments through these partnerships, we will continue to seek sustainable, risk-adjusted returns to help the government meet its long-term pension obligations,” he added.
KWAP remains committed to managing the fund prudently, transparently and responsibly in fulfilment of its statutory mandate to assist the Federal Government in meeting its pension obligations to public sector retirees.
