PETALING JAYA: Silverlake Group has entered into a strategic partnership with private equity firm Ikhlas Capital via a US$40mil (RM166.22mil) investment by the latter.

       The partnership, in which Ikhlas Capital will be the group’s first institutional partner, will accelerate growth and scale internationally, further solidifying Silverlake’s position as Asean’s number one technology software group.

       "At Silverlake, we are embarking on a big growth push to propel our technology offerings towards even greater integration to help customers innovate and manage their businesses. To be at the forefront of this rapidly changing world, our mission is to empower businesses and build technology access for all.

       "We are excited for the partnership with Ikhlas Capital given their deep strategic expertise, proven experience of growing companies, and extensive network that will help us scale rapidly to further strengthen our foothold and proposition across ASEAN and the broader Asia region," Silverlake Group founder and group executive chairman Goh Peng Ooi said in a statement.

       Ikhlas Capital founding partner and chief executive officer Kenny Kim said Silverlake Group is well positioned to deliver technology solutions to address the upcoming needs of existing and new customers.

       “The recent launch of its next generation digital banking system M？biusis a clear testament of the group’s ability to continue delivering cutting edge transformative technology.

       “We are thrilled to partner with Goh and the Silverlake Group leadership to capture the vast opportunities and accelerate their growth ambitions,” Kim said.

       The transaction is subject to customary regulatory approvals and closing conditions.

       Silverlake Group is a leader in core banking systems, insurtech, fintech, retailtech, govtech, cloud-based technology and analytics with customers across Asia, Middle East, Europe and Africa.

       Ikhlas Capital is an Asean private equity fund manager dedicated to partnering and growing great companies that positively impact the development of the region.

       The firm’s founding partners, Datuk Seri Nazir Razak, Kenny Kim, Gita Wirjawan and Cesar Purisima, are well-known Asean professionals who have spent a combined total of more than 100 years of their careers in the region.