The Kumpulan Wang Persaraan (KWAP) retirement fund has become a minority stake owner in offshore support vessels owner Cyan Renewables after investing RM219m ($52.7m). KWAP, an organisation which manages the pension scheme for Malaysia’s public employees, is a co-investor in the deal led by Seraya Partners, a mid-market Asia-focused infrastructure investor. Cyan is committed to further boosting the country’s offshore support vessel industry, with plans to invest up to RM1bn ($230m) together with KWAP in various endeavours, such as establishing its Southeast Asia headquarters in Malaysia and the development of fleet management and chartering teams based in Kuala Lumpur and Miri. “The investment into Cyan is the epitome of our commitment to realising our pledge towards achieving RM20bn investment in transition assets by 2030. Cyan also supports the transition of legacy to clean energy by providing essential, high-value services and developing skilled professionals locally,” said Hazman Hilmi Sallahuddin, chief investment officer at KWAP. This investment is also part of KWAP’s commitment to catalyse growth in key economic sectors including infrastructure, transport, and renewable energy, amongst others. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsMalaysia Singapore