(Sept 13): Malaysia’s sovereign wealth fund has new board and CEO that are in discussions about a possible change in investment mandate and a broad idea of the changes should be known by year end, Azmil Zahruddin Raja Abdul Aziz, Deputy Managing Director and Head of Investments at Khazanah Nasional Berhad tells Bloomberg at Milken Institute Asia Summit in Singapore.

* Khazanah’s run rate since 2014 just under 10% internal rate of
return: Azmil

* Khazanah has had no cash injections from government for more
than 10 years: Azmil

* Khazanah says typical investment life cycle 8-10 years

* Azmil says private equity investment market getting more
crowded with greater competition for deals and rising valuations

* Khazanah sees more investment partnerships in deal-making

* Khazanah manages about US$40b of assets