Heir to Malaysian Fortune Seeks $200 Million for Private Markets

Iris Capital Partners, an investment firm backed by the heir to a Malaysian fortune, is seeking to raise $200 million from institutional investors, the latest family wealth vehicle to open up to outside capital.

The firm is seeking cash for a new private credit and private equity fund, managing partner Rachel Lau said in an interview. She’s the daughter of the late Lau Boon Ann, who built a fortune in real estate and was an early investor in Top Glove Corp., the world’s largest manufacturer of rubber gloves.

“Everyone realizes after a couple of years that just ...