The Monetary Authority of Singapore (MAS) is launching a $5 billion fund to be managed by private equity (PE) and infrastructure fund managers.
The $5 billion private markets programme (PMP), it builds on the regulator’s current external fund manager programme, which has helped to anchor global asset managers in the public markets space.
Under the new initiative, MAS will fund PE and infrastructure fund managers who are committed to either deepening their existing presence or establishing a significant presence in Singapore.
The PMP programme is part of the regulator’s initiatives to enhance private markets financing channels, as well as to support the growth of Asian enterprises and the infrastructure financing market.
MAS said it will also work with the industry to establish private market funding platforms that connect growth companies with a wider investor network.
To that end, MAS has also announced the introduction of a large-scale deal making platform – MATCH – that curates and matches promising next-generation Asean enterprises with private capital.
MATCH has already generated more than 17,000 matches between 380 participating investors and 840 enterprises.
These new initiatives, which were highlighted at the global investor summit of Singapore FinTech Festival, are complemented by other efforts to grow the local talent pool.
This is in addition to providing flexibility on the hiring of foreign specialists in the PE and venture capital (VC) industry.
Just last month, chief justice Sundaresh Menon has also launched the Venture Capital Investment Model Agreements (VIMA), which was developed by the Singapore Academy of Law and the Singapore Venture Capital and Private Equity Association.
The introduction of the VIMA for early stage VC transactions will enable deal and cost efficiencies through a set of standardised and easily accessible documents that investors and enterprises can use and adapt.
Jacqueline Loh, deputy managing director at MAS, said the regulator has been working closely with the industry to position Singapore as the leading enterprise and infrastructure financing hub in the region.
She said the PMP will enhance Singapore’s private markets ecosystem, as well as strengthen the value proposition of the country’s asset management industry as a gateway for investors to tap the region’s growth opportunities.