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Manila Bulletin devider Business devider Banking & Finance devider Maharlika names new CIOO as sovereign wealth fund ramps up investments

Maharlika names new CIOO as sovereign wealth fund ramps up investments

Published Feb 23, 2026 04:46 pm

At A Glance

  • Maharlika Investment Corporation (MIC), the manager of the sovereign wealth fund, has appointed Kheed Nielsen Ng as its new chief investment and operating officer (CIOO) amid a push to ramp up the state-run firm's investment activity.

Maharlika Investment Corp. (MIC), the manager of the Philippines’ first sovereign wealth fund (SWF), has appointed Kheed Nielsen Ng as its new chief investment and operating officer (CIOO) amid a push to ramp up the state-run firm’s investment activity.

As the new CIOO, Ng will oversee investment strategy, portfolio management, and the investment management group.

He will also advise the board and MIC President and Chief Executive Officer (CEO) Rafael D. Consing Jr., and ensure the fund meets global governance standards.

Ng has international experience in investment banking, private equity, and public markets across North America, Europe, and Asia, having overseen the deployment of around $2 billion, or approximately ₱115.2 billion.

He previously held senior roles at Canada Pension Plan Investment Board (CPPIB) and Morningside Capital, “where he led sourcing and execution efforts, served as a board observer, and worked closely with portfolio company management teams on value creation.”

“Since joining MIC as vice president of the investment management group, he has provided strategic leadership and demonstrated the technical rigor expected of the CIOO,” MIC said in a Feb. 23 statement.

Consing said Ng has the “strategic foresight” and technical expertise needed to advance MIC’s investment mandate, citing his proven track record of managing and growing wealth on a global scale.

“As MIC increases its investment activity, ensuring clear leadership, accountability, and authority within the investment function is critical to delivering on MIC’s mandate and meeting stakeholder expectations,” Consing said.

Republic Act (RA) No. 11954 and its implementing rules state that the board of directors has the authority to appoint the CIOO, a “highly technical” role that is key to carrying out MIC’s mandate.

Ng assumed his new role after the company’s board confirmed his appointment as CIOO at the regular board meeting on Feb. 12.

Consing said MIC is accelerating its entry into the logistics and energy sectors, with two cornerstone deals expected to close in the first quarter of this year.

In particular, MIC has been “advancing” its acquisition of an 11.2-percent stake in Asian Terminals Inc. (ATI).

Besides ATI, MIC is also moving to finalize the operationalization of its investment stake in Synergy Grid & Development Phils. Inc. (SGP), which is seen as providing a foothold in the national transmission grid.

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