- CFM and Argos Partners have been appointed by KWAP to manage a shariah-compliant infrastructure fund under the RM 6 billion (~USD 1.4 billion) Dana Pemacu initiative.
- The Malaysia Climate Infrastructure Fund (MCIF), a diversified infrastructure private equity vehicle, will be managed through a Malaysian based joint venture between CFM and Argos Partners, launching with RM500 million (~USD118 million) commitment from KWAP.
- MCIF aims to accelerate vital climate infrastructure in Malaysia and emerging markets across Asia and Latin America, driving decarbonisation, social and economic growth.
Kuala Lumpur, 15 July 2025: Climate Fund Managers B.V. (CFM) and Argos Partners Sdn. Bhd. (Argos Partners) are proud to be appointed by Malaysia’s largest public sector pension fund, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], to manage a shariah-compliant infrastructure fund under its Dana Pemacu initiative. This mandate marks a significant step towards advancing sustainable, climate-resilient infrastructure aligned with Islamic investment principles.
CFM, a climate-focused blended finance investment manager operating across Africa, Asia and Latin America, partnered with Malaysian investment manager, Argos Partners, to establish MCIF. The Fund will be managed by a joint venture between CFM and Argos Partners, domiciled in Malaysia and in line with relevant regulatory requirements.
MCIF is a shariah-compliant private equity fund focused on diversifying the infrastructure investments in Malaysia and emerging markets across Asia and Latin America. Key sectors include renewable energy, transportation, digital infrastructure, water and wastewater. The Fund will launch with RM 500 million commitment from KWAP as a cornerstone investor, approximately USD 118 million as at today’s exchange rate.
Launched in May 2024, Dana Pemacu is a RM 6 billion initiative (approximately USD 1.4 billion as at today’s exchange rate) aimed at strengthening Malaysia’s private market ecosystem. By adopting a co-General Partner (Co-GP) model, the programme brings together global general partners and local talents to enhance domestic capacity, accelerate investment into critical sectors and drive sustainable economic, environmental and social growth.
Andrew Johnstone, CEO of CFM said: “Addressing the climate crisis requires not only global ambition but partnerships that bridge expertise across borders. The mandate from KWAP to establish the Malaysia Climate Infrastructure Fund allows us to combine our international network and experience with Argos Partners’ deep local knowledge, to channel foreign direct investment into Malaysia and other emerging markets, driving the development of infrastructure that delivers tangible climate and community benefits.”
Abdul Hakeem, Managing Director of Argos Partners added: “Investment in sustainable infrastructure is urgently required to meet the needs of Malaysia’s growing population while advancing the transition to net zero. We are honoured to partner with KWAP and CFM to deliver high-impact shariah compliant climate infrastructure projects that create lasting economic, social and environmental benefits for communities in Malaysia and beyond.”
