Reported by Bloomberg, a new $500 million private equity fund is being started by Malayan Banking Bhd. The fund, so Bloomberg, will have a first tranche of $87.5 million with a contribution of $50 million by Maybank from Singapore.
The fund will invest in renewables, among them geothermal in the Asia-Pacific region with a focus on China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos.
The fund will comprise two large packages, $350 million supported by Maybank, the Asian Development Bank and IFC, as well as a $150 million co-financing facility supported by the Overseas Private Investment Corp of the U.S.
Source: Bloomberg
