As first reported by Private Equity International, Permodalan Nasional Berhad (PNB), Malaysia’s largest state-backed investment firm, is slowing down its private equity (PE) commitments this year as it waits for market conditions to improve.
Ramli said PNB is taking a cautious approach to PE investments amid rising interest rates and market volatility.
PNB’s PE portfolio includes investments in a number of Malaysian and Southeast Asian companies.
The firm has also made PE investments in the United States and Europe.
PNB’s decision to slow down its PE commitments is a sign of the challenging environment for private equity investors.
The PE industry has been hit by rising interest rates, which make it more expensive for companies to borrow money and market volatility has also made it difficult for PE firms to exit their investments at attractive prices.
Despite the challenges, Ramli said he remains optimistic about the long-term prospects for PE and the firm will continue to invest in private equity, but more cautiously.
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