Patrizia, Mitsui sustainable infrastructure fund raises US$110m at first close
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PATRIZIA and Mitsui & Co have launched the Apac Sustainable Infrastructure Fund (A-SIF), which has US$110 million to invest at the first close.
The fund, which has a target size of US$500 million to US$1 billion, is dedicated to investing in sustainable mid-market infrastructure across Asia-Pacific, Patrizia and Mitsui & Co said in a joint statement on Wednesday (Jan 18).
It will target key developed markets across the region, including Singapore, Japan and New Zealand, as well as select developing Asian markets.
A-SIF will mainly focus on mid-market brownfield opportunities in four core sectors – energy (50 per cent), digital (20 per cent), social (20 per cent) and mobility (10 per cent). Target assets include solar and wind farms, battery storage, healthcare and education facilities.
Patrizia-Mitsui said the new fund will leverage the expertise of more than 15,000 local experts across 69 offices in Asia-Pacific with connections to industry and government bodies.
It also benefits from “strong sponsorship alignment” with the Development Bank of Japan as an anchor investor, and Patrizia-Mitsui co-investors in the fund.
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A-SIF is the second infrastructure fund from the Patrizia-Mitsui joint venture, following the launch of the Emerging Market Infrastructure Fund in 2008.
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