Maharlika Investment Corp. (MIC) is tapping into international sovereign funds to “expand the balance sheet” for the Maharlika Investment Fund (MIF).
MIC president Rafael Consing said the company had preliminary discussions with European and Middle Eastern sovereign funds holders.
“We will be inviting other sovereign funds to enter in limited partnership with us. However, we’re not there yet, but we are working to have them as partners,” Consing said at the Philippine Economic Outlook forum organized by the SGV Knowledge Institute.
The forum which carried the topic “Public and Private Partnerships as a Catalyst for Sustainable Growth” discussed the significance of investments in the country’s capital formation.
Consing disclosed the corporations’ strategy to raise funds from external source to boost the flow of investments that would fund important infrastructure proposals and expand assets under management (AUM).
High on MIC’s list are projects on renewal energy, physical connectivity and agriculture infrastructure projects, he said.
“It’s not because the other sectors are not as important as the first three. That was just how the deal flow is coming in. There are several [projects] on energy, but we are quite choosy in the projects that we intend to finance,” Consing said.
He said power has been a perennial problem in the Philippines, with high power rates considered deterrent to investments.
Other sectors that would benefit from the MIF are infrastructure, oil, gas, power, agroforestry, mineral processing, tourism, transportation, aerospace and aviation, he said.
