Singapore-Based Private Equity Firm Seraya Partners Closed $800 Million Asia-Focused Infrastructure Fund for Digital Infrastructure & Energy Transition Investments with Average Investment Size of $100 Million, $800 Million Raised from Institutional Investors, Sovereign Wealth Funds, Development Bank, Pension Funds, Insurers & Family Offices Including from BlackRock, Asian Infrastructure Investment Bank & Alberta Investment Management Company
14th December 2023 | Hong Kong
Singapore-based private equity firm Seraya Partners has announced the close of the $800 million Asia-Focused Infrastructure Fund for digital infrastructure & energy transition investments with average investment size of $100 million, with the $800 million raised from institutional investors, sovereign wealth funds, development bank, pension funds, insurers & family offices including from BlackRock, Asian Infrastructure Investment Bank (AIIB) & Alberta Investment Management Company (AIMCo). Seraya Partners: “The Asia-based and focused Fund invests in next-generation infrastructure, focusing on energy transition and digital infrastructure platforms enabled by tech. The mid-market-focused fund is committed to bolstering the region’s transition to net zero and accelerating the adoption of clean sustainable energy.” Founded in 2020, Seraya Partners is an independent private equity firm investing in Next Generation Infrastructure, and led by James Chern (Managing Partner & CIO), Ivan Chern (Managing Partner), Bernard Ning Bo (Partner & Head of Value Creation) & Douglas Kang (Partner & CFO). More info below:
“ Singapore-Based Private Equity Firm Seraya Partners Closed $800 Million Asia-Focused Infrastructure Fund for Digital Infrastructure & Energy Transition Investments with Average Investment Size of $100 Million, $800 Million Raised from Institutional Investors, Sovereign Wealth Funds, Development Bank, Pension Funds, Insurers & Family Offices Including from BlackRock, Asian Infrastructure Investment Bank & Alberta Investment Management Company “
James Chern, Managing Partner and CIO of Seraya Partners: “Asia’s rapidly expanding cities, intensifying climate change, and aging infrastructure have created a pressing need to address the region’s burgeoning trillion-dollar infrastructure gap. Energy transition and digital infrastructure will be the twin engines to bridge this gap and lead us toward net-zero ambitions. We are deeply grateful for the support and confidence our investors have placed in us to address the infrastructure gap. We are committed to creating value for our investors while building a more sustainable future for Asia.”
Dong-ik Lee, AIIB Director General, Banking Department (Region 1): “AIIB’s investment in Seraya Partners shows its commitment to support Asian infrastructure asset managers. It is well-aligned with AIIB’s mission of financing infrastructure for tomorrow. This investment demonstrates AIIB’s commitment to reducing bottlenecks in the infrastructure supply chain through innovative technologies such as offshore wind farm vessels. AIIB looks forward to working with Seraya Partners to unlock new technologies and new ways to address climate change and to better connect Asia and the world digitally.
Singapore-Based Private Equity Firm Seraya Partners Closed $800 Million Asia-Focused Infrastructure Fund for Digital Infrastructure & Energy Transition Investments with Average Investment Size of $100 Million, $800 Million Raised from Institutional Investors, Sovereign Wealth Funds, Development Bank, Pension Funds, Insurers & Family Offices Including from BlackRock, Asian Infrastructure Investment Bank & Alberta Investment Management Company
12th December 2023 – Seraya Partners, the first Asia-based independent private equity fund for next-generation infrastructure investing, based in Singapore, today announced the completion of its first fund, “Seraya Partners Fund I.” The final close was $800 million, including co-investments, surpassing its $750M target.
- The Asia-based and focused Fund invests in next-generation infrastructure, focusing on energy transition and digital infrastructure platforms enabled by tech. The mid-market-focused fund is committed to bolstering the region’s transition to net zero and accelerating the adoption of clean sustainable energy.
- The Fund has commitments from global institutional investors, including sovereign wealth funds, pension funds, insurers, and family offices across North America, Europe, and Asia-Pacific. LPs include Asian Infrastructure Investment Bank (AIIB), Alberta Investment Management Company (AIMCo), and funds and accounts managed by BlackRock.
According to the Asian Development Bank (ADB), approximately US$1.7 trillion will have to be invested annually in infrastructure across Asia through 2030 to meet current demand. Seraya identifies supply and demand gaps within the energy transition and digital infrastructure space and has made a solid start to deployment, with 50% of its funds already allocated to the following three platforms:
- Empyrion DC is Asia’s first green data centre operator. Empyrion develops and operates highly energy-efficient hyperscale and colocation data centres, and employs renewable energy to power its data centres. Empyrion is operating and developing projects across multiple markets including North and Southeast Asia.
- Cyan Renewables is the first pure-play offshore wind farm vessel operator in Asia that owns and leases specialised vessels to support all phases of offshore wind farm projects, from installation to operations. In July 2023, Cyan acquired its first ship in a deal with Belgium’s DEME, including a long-term charter with turbine maker Siemens Gamesa for work offshore Belgium. The platform looks to address the severe shortage of vessels serving offshore wind farms. Cyan aims to own and operate a $1 billion portfolio of vessels by the end of 2025.
Astrid Renew is developing cutting-edge solar, wind, and energy storage solutions in partnership with multinational corporates committed to RE 100 goals, and also local power utilities and regulators.
The team will continue focusing on building its existing platforms and identifying new investment opportunities in Fund I. Given the large fragmentation and complexity in the Asia infrastructure market, risk allocation issues, and capacity-building challenges, the team taps into its operator experience and sector expertise to play an active role in owning, building, and developing these platforms. The Fund believes this approach will drive attractive returns in the mid to high teens.
Seraya Partners is an independent private equity firm investing in Next Generation Infrastructure. With US$800 million in AUM across our funds and co-investment vehicles, we manage long-term capital for institutional investors and family offices around the world.
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