Sparx Eyes Renewable Energy Fund As Japan Turns From Nuclear

Dec 2 2011 | 11:32am ET

Sparx Group, one of Asia's largest hedge fund managers, earlier this year launched a fund to finance temporary hotels for areas of northern Japan hard-hit by March's earthquake and tsunami. Now the firm is mulling a fund to address the third part of the country's tragedy: the nuclear disaster that ensued.

The Tokyo-based firm may launch an infrastructure and renewable energy fund, anticipating opportunities as Japan seeks to wean itself off nuclear power. Japanese lawmakers have already passed a law requiring utilities to increase their purchases of renewable energy.

"We are seriously considering setting up a fund that invests in power generation plants of renewable energy, such as mega solar, wind, geothermal, biomass and so on," CEO Shuhei Abe told Reuters.

"I believe renewable energy will be a hot topic by July when the law is implemented, so we want to make some kind of initial move as soon as possible."

Abe said Sparx hopes to launch the fund next year, when the firm will launch its second real-estate fund devoted to rebuilding areas devastated by the March disaster.

Sparx is also readying its first Korean retail mutual fund, through its South Koran unit Cosmo Investment Management. That fund, seeded by Sparx and Lotte Group, will launch in the first quarter with more than ¥1 billion, with plans to raise as much as ¥100 billion over the next five years.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of