Fullerton Fund Management, a Singapore-based active investment firm, raised US$100M in the anchor close of its Fullerton Carbon Action Fund (the Fund).
The fund will invest in market leading businesses in the manufacturing, industrials, energy, and electric vehicles/mobility sectors. It will seek established, profitable and robust cash flow businesses, and avoid earlier stage venture capital investments as well as infrastructure related deals. These target companies have lower inherent downside risks and are well-positioned to deliver attractive financial returns over the long-term.
Focusing on leaders in the mid-market space in Southeast Asia, India and China, it provides strategic support alongside capital to drive the growth of its portfolio companies in areas such as new market entry, M&A and sustainability improvements.
Backed by a strong pipeline of proprietary deals, the fund is currently evaluating several investment opportunities across Asia, with the target to close at least three transactions by the first half of 2024.
Led by CEO Jenny Sofian, Fullerton Fund Management Company is an active investment specialist, focused on optimising investment outcomes and enhancing investor experience. It helps clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through a suite of solutions. and its expertise, which encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai and Brunei. Fullerton is part of a multi-asset management group, Seviora, a holding company established by Temasek. Income Insurance, one of Singapore’s leading insurers, is a minority shareholder of Fullerton.
Commenting on the news, Jenny Sofian, said: “With the acceleration of the decarbonisation roadmap in Asia, we are at an inflexion point where the fight against climate change coincides with the emergence of very compelling growth areas in private equity. This strategy provides an avenue to ride the decarbonisation wave and advance the net zero agenda in the region, while capturing long-term opportunities.”
FinSMEs
21/03/2024
