ADB, Orix, Robeco launch private equity fund for low-carbon deals

HONG KONG Mon Aug 4, 2014 4:13am EDT

HONG KONG Aug 4 (Reuters) - The Asian Development Bank (ADB), Orix Corp and Robeco Institutional Asset Management BV said on Monday they have formed Asia Climate Partners (ACP), a joint venture to make private equity investments in low-carbon deals across Asia.

ACP will initially have $400 million in capital from its three founders, the firms said in a statement, without giving further details.

Asia's economies are among the world's fastest growing, but the region faces environmental challenges resulting from rapid industrial growth, including poor air and water quality, inadequate and unreliable energy supplies and inefficient use of energy and natural resources.

The investment vehicle will invest 20 percent in funds and 80 percent in direct and co-investments, with a focus on growth and mid-market buyout opportunities, as well as environmental infrastructure development and construction financing.

Manila-based ADB provided almost $9.5 billion in climate-related financing between 2011 and 2013, through loans, grants, guarantees and equity investments. (Reporting by Stephen Aldred; Editing by Matt Driskill)

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