Najm Capital
Najm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
Najm/Capital/Fundraising/Temasek
FundraisingTemasek logo

Temasek

Deck prep
Singapore · $382B AUM · Lead: K. Al Suwaidi
Objective

Win a $250-400M anchor commitment for Fund II by Q4 2026 first close. Position Najm as the US cross-border structured-preferred specialist Temasek doesn’t currently have in its portfolio.

Intro path: R. Sipahimalani intro · warm · first call held Mar 28
Key points · Najm angle for Temasek
Asia-exposed positions: Databricks · OpenAI · Abridge are natural co-invest candidates
ESG + carbon reporting · we baseline scope 1+2 on 22/22 portcos · scope 3 on top 5
10-year horizon alignment with Temasek’s long-dated capital
Structured preferred + board rights differentiator vs. Temasek’s growth-equity peers
Deck preview · 8 slides · 3 bespoke
Compiled deck · Temasek variant8 slides · 3 bespoke · click a slide to expand
AP
Najm
01 / 08
Cover
Najm — Fund II
Late-stage growth + structured preferred
Concentrated · 20-25 positions
Miami + New York offices
Fund II target $5B · Q4 2026 first close
Fund II · Q1 2026Confidential
AP
Najm
02 / 08
Bespoke · Temasek
Why Najm · Temasek fit
Asia structural preferred playbook
ESG-forward · carbon baseline on 12/22 portcos
Long-term thesis · 10-year horizon alignment
R. Sipahimalani intro via warm network
Fund II · Q1 2026Confidential
AP
Najm
03 / 08
Standard
Fund V + Co-Invest performance
Fund V: 1.52x gross MOIC · 24.5% gross IRR
Co-Invest sidecar: 1.48x · 139.9% IRR
$2.42B invested · 24 positions
Top movers: Phoenix 9.56x · BrainCo 3.27x
Fund II · Q1 2026Confidential
AP
Najm
04 / 08
Standard
Investment thesis
AI & Data Platforms
Financial Services Disruption
Take-Privates & Control
Energy & Infrastructure
Fund II · Q1 2026Confidential
AP
Najm
05 / 08
Standard
Case studies
OpenAI · $300B entry · 1.67x · structured protection
Databricks · $64B entry · 1.64x · FCF+ inflection
Phoenix Financial · 6.77x → 9.56x · listed re-rating
QXO · take-private · 1.28x · execution playbook
Fund II · Q1 2026Confidential
AP
Najm
06 / 08
Bespoke · Temasek
Temasek fit
$250-400M commitment target range
Co-invest on Asia-exposed deals · Databricks IPO
LPAC representation under discussion
ESG reporting cadence + scope 3 baseline
Fund II · Q1 2026Confidential
AP
Najm
07 / 08
Standard
Team + governance
Kushner · Naqvi · Videgaray · Key · Brekke (IC)
Value Add: Gen. Correa + Len Rosanoff
15-person team · institutional diligence
Fund II · Q1 2026Confidential
AP
Najm
08 / 08
Bespoke · Temasek
Next steps · Temasek
Full data room access granted June 8
Sipahimalani + Pillay follow-up scheduled
ESG diligence package drafted
Target close Q4 2026
Fund II · Q1 2026Confidential
Prep checklist
Warm intro + framingConfirmed · first call held
LP research packPriors + mandate documented
Tailored deck draft8 slides · 3 bespoke to target
Schedule follow-upBook 60-min deep-dive call
Next stepDeck v1 delivery · call Jun 82026-06-08
Angle

Asia structural preferred playbook + ESG narrative. Temasek mandate aligns with Najm defensive-growth theme.