The Philippines’ sovereign wealth fund Maharlika Investment Corp (MIC) is preparing to step up planned capital deployment in fiscal year 2026, targeting energy, logistics, agriculture, and mining sectors, according to an announcement.
MIC will adopt a “sectoral and tactical” investment approach focused on easing structural bottlenecks and unlocking export capacity, President and CEO Rafael Consing said, as the fund seeks to deliver both financial returns and broader economic efficiency.
“Our goal for 2026 is precise: to direct capital into structural bottlenecks where we can generate measurable efficiency,” Consing said.
Officially established through legislation in July 2023, the Maharlika Investment Corporation (MIC) began formal operations in January 2024 with the convening of its inaugural board.
The fund set a deployment target of P35 billion (about $594 million) to P37 billion last year.
Consing said energy resilience will be a priority, with MIC looking at strategic power assets and investments to upgrade electricity infrastructure, particularly in rural areas.
In logistics, MIC said its stake in Asian Terminals Inc. anchors the portfolio in trade-linked infrastructure with cash flow potential, supporting ports and corridors that feed domestic consumption and exports.
MIC acquired 11.2% of the listed port operator last year, valuing the purchase at about $61.8 million.
The fund is also advancing into agriculture through special situations and strategic mergers and acquisitions, targeting businesses with export promise and a labour component.
It aims to close deals in the first half of 2026, Consing said, with a focus on backing companies “ready to scale” by funding efficiency upgrades and higher export volumes that can help sustain jobs.
“By marrying ‘intelligent capital’ with national imperatives, MIC will contribute to a more diversified and resilient Philippine economy,” Consing said.
In February last year, MIC signed a memorandum of understanding with Thailand’s Charoen Pokphand Group (CP Group) to establish a $1-billion private equity fund.
It also signed a binding term sheet in February to provide a $76.4-million bridge loan to Makilala Mining Company, Inc. (MMCI), a subsidiary of Australia-listed Celsius Resources.
In 2024, MIC remitted ₱1.4 billion in dividends to the national treasury, equivalent to 75% of its distributable earnings.
