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Manila Bulletin devider Business devider Banking & Finance devider Maharlika fund to deploy ₱34.9 billion in capital, aims for ₱1.8-billion gross income

Maharlika fund to deploy ₱34.9 billion in capital, aims for ₱1.8-billion gross income

Published Sep 8, 2025 03:54 pm

At A Glance

  • Philippine sovereign wealth manager Maharlika Investment Corp. (MIC) is targeting ₱1.8 billion in gross income from the ₱34.9 billion in capital it plans to deploy this year.
Maharlika Investment Corp. (MIC), the Philippines’ sovereign wealth manager, aims to generate ₱1.8 billion in gross income this year from the ₱34.9 billion in capital it plans to deploy.
According to the state-owned investment fund's performance scorecard, MIC is targeting a net income of ₱1 billion from the deployed capital, with expected net returns from the fund’s total capital base reaching ₱4.1 billion.
The roadmap, released last month, emphasized a dual focus on profitability and supporting the country’s economic and social development.
To achieve this, all investments must meet a minimum 10 percent economic internal rate of return (EIRR).
Eric Jurado, an international investor and hedge fund manager, explained that this metric “goes beyond financial gains to measure broader social benefits such as job creation, improved infrastructure, and sustainable development.”
MIC President and CEO Rafael Jose Consing Jr. earlier told the Manila Bulletin that the country’s first sovereign wealth fund is eyeing at least three new investments before the end of the year, which could bring total capital commitments to as much as ₱37 billion just two years after its establishment.
From its current ₱28 to ₱29 billion in investments, additional commitments of under ₱10 billion are in the pipeline for three or more upcoming projects.
Last month, the fund announced a partnership with Saudi Arabia-backed ACWA Power to develop renewable energy projects that will supply electricity to nearly 500,000 off-grid households. The investment is valued at around ₱5 billion.
To date, the two-year-old Maharlika Investment Fund (MIF) has invested ₱19.7 billion to acquire a 20 percent stake in the National Grid Corporation of the Philippines (NGCP).
Consing noted that the NGCP stake is the company’s first and largest investment so far, with future deals expected to be smaller in value.
MIF has also formed a partnership with Thailand’s Charoen Pokphand Group Co. Ltd. for investments in agriculture and food production, digital innovation, and sustainable energy.
It also provided a $76.4 million (about ₱4.3 billion) bridge loan to Makilala Mining Co. Inc. to support the development of the Maalinao-Caigutan-Biyog copper-gold project in Kalinga province.
Consing added that the planned P35 billion to ₱37 billion in total investments by year-end will also cover a transportation and logistics infrastructure project.

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Maharlika Investemnt Corp. (MIC)
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