Ant Global Partners To Raise $250M Cleantech Fund

Feb 13 2009 | 10:52am ET

The private equity firm Ant Global Partners, controlled by agricultural lender Norinchukin Bank of Japan, plans to raise a $250 million clean technology fund over the next three years.

Reuters reports the fund will focus on investments such as water treatment and renewable projects in Indonesia.

Ant Global is the Singapore-based arm of Ant Capital Partners, formerly Nikko antfactory KK, which manages about $1.4 billion in assets.

"Indonesia is a very big market, with about 240 million people, accounting for two-fifths of ASEAN's population, and yet surprisingly it's an overlooked market for clean tech investment," said Kim Jung Kyu, vice president for Ant Global Partners.

Indonesia’s sovereign wealth fund, Government Investment Unit (GIU) will raise 10% of the fund, which Ant Global hopes will total $50 million by June and $100 million by the end of 2009.

Ant Global is considering investment in waste-to-energy projects and wind farms (which it says could offer an ROI of 20% to 25%), and water treatment facilities and agriculture technology projects.

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