KUALA LUMPUR: Government linked private equity fund Ekuiti Nasional Bhd (Ekuinas) portfolio companies posted a 30.2% and 31.3% growth in revenue and earnings before interest, tax and depreciation (Ebitda) for financial year 2022 (FY22).

The fund which was founded in 2009, released its FY22 annual report today.

Through Ekuinas’ investments, bumiputera equity ownership increased to RM6.5 billion, or 1.6 times the capital invested and total shareholders’ value grew to RM8.2 billion, translating to 2.1 times the capital invested. In addition, bumiputera participation in management at portfolio companies grew by 21.9% since Ekuinas’ entry.

On fund performance, the private equity firm said its Ekuinas Direct (Tranche II) Fund recorded a Gross Portfolio Return (GPR) of RM716.6 million, and a Gross Internal Rate of Return (IRR) of 11.9% per annum (p.a.), which was an increase from RM654.0 million recorded in the previous year.

Meanwhile, Ekuinas Direct (Tranche IV) Fund recorded a GPR of 91.1 million and IRR of 77.2%, while Ekuinas Direct (Tranche III) Fund delivered a GPR of RM133.5 million and IRR of 3.1%.

As for its outsourced investments, Ekuinas Outsourced (Tranche I) Fund saw improvements with an IRR of 4.1% as compared to 2021 performance of 3.3%. On the other hand, Ekuinas Outsourced (Tranche II) Fund performance remained subdued with a negative IRR of 2.7%, down from negative IRR of 0.8% in 2021.