SUSI Partners has received $120m (€111m) in total capital commitments at the close of its Asia energy-transition fund, as the Development Bank of Austria (OeEB), the Belgian Investment Company for Developing Countries (BIO) and British International Investment (BII) join as investors.

The manager said the SUSI Asia Energy Transition Fund (SAETF), which closed at the end of May, counts seven development finance institutions as well as selected private investors as backers.

As previously reported, SAETF’s first close received capital commitments from development banks AIIB and FMO, Nordic DFIs Norfund and Swedfund, as well as private institutional investors from Germany and Singapore. 

SUSI said since the first close, the fund has added further commitments from OeEB, BII and BIO.

SAETF’s portfolio currently comprises four investments, including a joint venture with Malaysian company InvestEnergy, a development platform for utility-scale renewable energy assets with Singapore-based Pacific Impact Development, and two investments focusing on distributed solar solutions for commercial and industrial companies with Singapore-based Entoria Energy and Asia Clean Capital Vietnam, respectively.

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