RHB, SBI to establish clean tech fund

SBI Investment Co. will act as the Investment Management Advisor to RHB Private Equity Fund Management Ltd in establishing the Asia CleanTech Fund.

"This is the first fund for RHB Private Equity created in partnership with an external party and we are proud to have SBII as our partner," said RHB Private Equity Holdings Chairman Patrick Chin Yoke Chung in a statement today.

He said SBII has extensive experience in clean technology industries through hands-on activities and would leverage on its exclusive network to grow values for the shareholders of the Asia CleanTech Fund.

As the first fund established in Malaysia, targeting clean technology investments in Asia Pacific, it will focus on an industry that is drawing great attention in Asia, from the viewpoint of both economic growth and increasing demand for energy.

The Asia CleanTech Fund, which targets innovative clean technologies primarily for renewable energy, smart technology, transport, agriculture, water and waste sectors, will have a minimal commitment of US$50 million.

It focuses on investing in listed and unlisted companies mainly in Japan, China and in other Asian emerging countries.

RHB Private Equity aims to commence investment in the fund by March next year.

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Tags: Asia Clean Tech Fund, RHB, SBI, renewable energy