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

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

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

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

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.