Seraya Partners, an independent private equity (PE) fund for next-generation infrastructure investing based in Singapore, has closed its first fund at US$800 million, surpassing its original US$750M target.
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The Asia-based and focused Seraya Partners Fund I has commitments from global institutional investors, including sovereign wealth funds, pension funds, insurers, and family offices across North America, Europe, and Asia-Pacific. The LPs include the Asian Infrastructure Investment Bank (AIIB), Alberta Investment Management Company (AIMCo), and funds and accounts managed by Blackrock.
The team will continue focusing on building its existing platforms and identifying new investment opportunities in Fund I.
“Asia’s rapidly expanding cities, intensifying climate change, and ageing 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,” said James Chern, Managing Partner and CIO of Seraya Partners.
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Seraya Partners targets control-oriented, middle-market platform investments in next-generation infrastructure, focusing on the digital infrastructure and energy transition sectors, primarily within the developed and Southeast Asia regions. The mid-market-focused fund aims to bolster the region’s transition to net zero and accelerate the adoption of clean, sustainable energy.
Seraya has offices in Singapore, Taipei, Seoul, Tokyo, and Denmark.
It has already invested in three platforms:
Empyrion DC: A 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 operates and develops projects across multiple markets, including North and Southeast Asia.
Cyan Renewables: A 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: It develops cutting-edge solar, wind, and energy storage solutions in partnership with multinational corporates committed to RE 100 goals, as well as local power utilities and regulators.
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.
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