Friday, 25 July 2014
Last updated 42 min ago
Nov 22 2011 | 9:32am ET
Maybank Islamic Berhad has joined forces with Maybank MEACP of Singapore to launch a $500 million Asia-focused clean energy private equity fund.
In a statement announcing the fund, Maybank Investment Bank CEO Tengku Dato' Zafrul Tengku Abdul Aziz said the 10-year private equity vehicle will invest in wind, solar, geothermal, small hydroelectric, biomass, biofuels and energy efficiency projects. The fund will invest in the Asia-Pacific region with a focus on countries like China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos.
“The clean and renewable energy sector is a high-growth sector with multi-faceted opportunities for small and medium business groups,” said Mumtaz Khan, CEO of Maybank MEACP, in a statement.
The fund will be made up of two parallel investment vehicles—a $350 million master fund supported by Maybank, Asian Development Bank and International Finance Corporation and a $150 million co-financing vehicle supported by Washington D.C.-based Overseas Private Investment Corporation.
The first tranche of funds will have an investment of $87.5million, of which Maybank will contribute $50 million.
Maybank MEACP is a joint venture of Malaysia’s Maybank and Singapore’s Middle East & Asia Capital Partners. Maybank Islamic Berhad operates as a subsidiary of Malayan Banking Berhad, based in Kuala Lampur, Malaysia.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…