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Malaysia’s RHL Sees Assets Tripling in 5 Years on New Fund

  • RHL expects to raise $200 million in new fund, co-founder says
  • RHL aims to invest 50% of funds in firms with good ESG scores

RHL Ventures, a Malaysian private investment firm supported by the country’s finance ministry, expects its assets to more than triple to 1 billion ringgit ($239 million) over the next five years, its top executive said.

“There are talks to launch another fund in the fourth quarter, where we are targeting $200 million,” Raja Hamzah Abidin, RHL’s co-founder and co-managing partner, said in an interview. RHL is in talks with North Asian institutions and pension funds, which have traditionally been its anchors, he said. RHL’s Hibiscus fund has more than 300 million ringgit in assets at present.