The Maharlika Investment Corp. (MIC) said it signed a memorandum of understanding with Morocco’s sovereign wealth fund, Ithmar Capital, according to a report by BusinessWorld.
The partnership aims to facilitate the exchange of expertise and best practices between the two sovereign wealth funds. MIC officials expressed eagerness to participate in mutual capacity building and explore potential co-investment opportunities.
The MoU marks another international engagement for the Philippine sovereign wealth fund, which has been seeking collaborations with other state-owned investment vehicles to diversify its portfolio and enhance its operational capabilities.