The Monetary Authority of Singapore, or MAS, is set to launch a US$5 billion investment vehicle with private equity and infrastructure fund managers.
Peter Ong, board member of the central bank and chairman of Enterprise Singapore, announced the launch of the fund and its private-market initiatives at the Singapore FinTech Festival's Global Investor Summit.
The fund, known as the private-markets program, is in addition to the current external fund-manager program of the central bank. It aims to support the growth of Asian businesses and the infrastructure-financing market.
It will also provide capital to private equity and infrastructure-fund managers seeking to strengthen their existing presence or establish a significant presence in Singapore.
MAS also created MATCH, a deal-making platform that connects private capital with next-generation ASEAN enterprises.
