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Khazanah closes London office

April 23, 2019

* Malaysian sovereign wealth fund Khazanah shuts London HQ  

PETALING JAYA: A US$33bil Malaysian sovereign wealth fund has shut down its London office to focus on investments in Asia in the wake of an investment scandal that implicated the country’s former prime minister, says UK-based The Sunday Times.

Khazanah Nasional Bhd, which has a big stake in Chinese e-commerce giant Alibaba, and had backed collapsed British tech firm Blippar, quietly closed its doors at the end of last month, according to an email sent to investors and seen by The Sunday Times.

It noted that Khazanah had 10 staff members in London.

The Sunday Times said the move had been rumoured for some time as the fund attempted to cut cost after a fall in the value of many of its portfolio companies amid a slow down in the global economy.

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