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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note