Malaysia’s Maybank Asset Management (Maybank AM) has partnered with Hastings Management, infrastructure fund manager in Australia, to offer Shariah-compliant infrastructure investment opportunities for investors in the Asian region.
As part of the deal, Maybank AM and Hastings will provide investors access to infrastructure investment opportunities in emerging markets such as the ASEAN economies, India and China through a pooled-fund.
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The asset manager said that it will combine its established presence in over 10 countries in the region with Hastings’ investment expertise to develop a strong fund partnership.
Through this partnership, both the companies will explore the launch of the first Malaysian domiciled USD-denominated global infrastructure fund by a Malaysian institution and co-managed by an infrastructure asset manager.
The collaboration between the parties will also benefit Malaysian Islamic finance, Maybank said in a statement.
The fund aims to open up opportunities for the syndicate of Malaysian Islamic banks to provide the Shariah debt support both at the acquisition stage and also Sukuk at the expansion stage.
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By GlobalDataHastings Management CEO Andrew Day said: "We are excited to be in partnership with Maybank AM. Hastings brings to this partnership 21 years of experience as a specialist global infrastructure fund manager, a large pipeline of investment opportunities and a proven track record of delivering returns for investors.
"By partnering with a leading player such as Maybank AM, we look forward to deepening our relationships and expanding our footprint in Asia."
