Kenanga Investors buys i-VCAP Management | Asia Asset Management

Malaysia’s Kenanga Investors is acquiring state-backed asset and exchange-traded fund manager i-VCAP Management for an undisclosed sum after getting the green light from Securities Commission Malaysia, a deal that will turn it into the second largest ETF manager in the country.
Kenanga Investment Bank, which owns Kenanga Investors, made the announcement in a statement on February 2, confirming a January 13 report in
Asia Asset Management (
The bank didn’t provide details but people familiar with the matter tell
AAM that it’s an all-cash deal and is expected to be completed by the end of March.
i-VCAP is wholly-owned by Valuecap Group, a three-way joint venture between sovereign wealth fund Khazanah Nasional, Permodalan Nasional, Malaysia’s largest fund manager, and civil service pension fund Kumpulan Wang Persaraan.

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