Malaysia’s Iris Capital Seeks USD200m as Family Wealth Firm Pivots to Private Credit

Iris Capital Partners in Malaysia is targeting USD200m from institutional investors for a new private credit and private equity fund, Bloomberg reported. The move marks a strategic pivot away from its family wealth origins. Managing partner Rachel Lau said family capital, which makes up about 25% of assets, is no longer sufficient, with pensions, insurers, and sovereign wealth funds offering more permanent support. Anchor investors include Hanwha heir Kim Dong-won and Malaysia’s sovereign wealth fund. Founded in 2020, Iris Capital Partners plans to launch the fund early next year and take majority stakes in international firms expanding into Southeast Asia. Lau said institutional capital offers clearer mandates than family office money, following recent transactions such as Mirxes Holding’s Hong Kong listing.