ABC World Asia, a private equity fund launched in May by the philanthropic arm of Singapore’s sovereign fund Temasek Holdings, recently raised SGD 385 million (USD 281 million) to invest in China, Southeast Asia and South Asia. In particular, the fund will target companies that specialize in “climate and water solutions, sustainable food and agriculture, smart and liveable cities, financial inclusion, better health and education.”
ABC World Asia CEO David Heng was quoted as saying, “While the industry is still at its early stages of development, we already see a range of opportunities to participate in impact investing across Asia. The investors in our fund bring deep and complementary experience spanning various markets and sectors. With their support, we believe we are well-positioned to identify and invest in good companies that seek to deliver a positive impact alongside sustainable financial returns.”
Launched by Temasek Trust, ABC World Asia seeks “to generate positive, measurable social or environmental impact, as well as a risk-adjusted return.” The new fund’s investors include Singapore-based companies, such as Mapletree Investments, Seatown Holdings and Sembcorp Industries, as well as US-based Pavilion Capital.
Established in 1974, Temasek Holdings is an investment company owned by the government of Singapore that is active in financial services, telecommunications and media, technology, transportation, industrials, life sciences, consumer, real estate, energy, and natural resources. It manages a portfolio of SGD 313 billion (USD 230 billion) as of 2019. Temasek Trust is a nonprofit organization that was founded by the company in 2007.
By Anna Gravois, Research Associate
Sources and Additional Resources
ABC World Asia press release
https://www.abcworld.com.sg/media-releases/abc-world-asia-closes-new-s385-million-fund/
ABC World Asia homepage
https://www.abcworld.com.sg
Temasek homepage
https://www.temasek.com.sg
Mapletree Investments homepage
https://www.mapletree.com.sg
Seatown Holdings homepage
https://www.seatowninternational.com
Sembcorp Industries homepage
https://www.sembcorp.com
Pavilion Capital homepage
http://www.pavilioncapital.com
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