Armstrong Readies Green Southeast Asia PE Fund

May 21 2012 | 8:43am ET

Singapore-based Armstrong Asset Management is poised to launch its first fund: an Asian private equity vehicle focused on clean energy.

The firm hopes to raise US$150 million for the 10-year Armstrong South East Asia Clean Energy Fund which will invest in small-scale infrastructure projects in Malaysia, Thailand, Indonesia and other Southeast Asian emerging markets. Typical projects will generate power of up to 10 megawatts from renewable energy resources, such as solar, hydro and wind.

Armstrong expects a first closing at US$66 million this month, with commitments from GEEREF (a fund of funds advised by the European Investment Bank and European Investment Fund) and DEG (a member of KfW Bankengruppe). The firm says it also has an unnamed “Asian-based corporate” lined up as its third and largest limited partner.

“ASEACE is on track to be the only operational clean energy fund dedicated to Southeast Asia. While both China and India tend to get more attention, for Armstrong, we’ve found that focusing on Southeast Asia has been a strong draw for our investors. It helps that new regulatory policies are being enacted by governments in the region which encourage the development of the renewable energy sector,” said Andrew Affleck, managing partner of Armstrong Asset Management. “In fact, Armstrong’s management team members have deep sector and cultural knowledge of Southeast Asia from their involvement in over 100 energy and infrastructure projects.”

Affleck is the former CEO of Low Carbon Investors, a dedicated global clean energy fund management group with over US$300 million iunder management.

 


In Depth

Hedge Fund Veteran Peter Borish Talks Trading

Dec 17 2014 | 9:32am ET

Peter Borish says 2014 was “tricky” from a trading perspective. “The best...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.