Swiss fund manager SUSI Partners has partnered with a Malaysian energy company to financing and operating energy-saving infrastructure projects across Southeast Asia.

The fund manager’s SUSI Asia Energy Transition Fund (SAETF) has created a joint venture with InvestEnergy to mainly target bespoke waste-heat-recovery as well as co- and trigeneration systems for commercial and industrial offtakers.

SUSI Partners said the partnership will also consider opportunities in commercial and industrial-scale onsite solar generation.

SUSI Partners said the venture marks its entry into emerging markets of Asia.

SAETF, which raised $81m at its first close in May, will hold a majority stake in the venture.

SAETF, which received capital commitments from development banks AIIB and FMO, Nordic DFIs Norfund and Swedfund, as well as private institutional investors from Germany and Singapore, expects to have a final close in 2022.

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