Swiss infrastructure fund manager SUSI Partners has held a final closing for Southeast Asia Energy Transition Fund (SAETF) at the end of May, bringing total fund commitments to $120 million.

SUSI Partners said in a statement on Thursday that the fund invests in energy transition infrastructure across Southeast Asia and has to date made investments in utility-scale renewable energy generation, energy efficiency, and distributed solar photovoltaics (PV) solutions for commercial and industrial end clients.

According to the statement, SAETF’s investor base includes seven development finance institutions as well as selected private investors.

Since obtaining commitments from the Asian Infrastructure Investment Bank (AIIB), Dutch FMO, and Nordic DFIs Norfund and Swedfund at first close, the fund has added further commitments from Austrian OeEB, British International Investment (BII), and BIO, the Belgian Investment Company for Developing Countries.

Economically, Southeast Asia has consistently been among the fastest growing regions globally over the last 20 years and energy demand has increased accordingly, according to SUSI Partners.

At the same time, it said the buildout of sustainable energy infrastructure that can deliver widespread and secure access to clean and affordable energy across the region is still critically underserved by international capital markets.

It said the prominence of development finance institutions in SAETF points to the pioneering role the fund assumes in directing international capital towards urgently needed clean energy transitions in Southeast Asia, a highly attractive market for public and private investors looking for investments with real impact.

SAETF’s portfolio currently comprises four investments, including an energy efficiency-focused 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 PV solutions for commercial and industrial end clients with Singapore-based Entoria Energy and Asia Clean Capital Vietnam, respectively.

SUSI Partners’ dedicated regional team plans to continue deploying SAETF’s capital through the existing platforms while adding further investments to the portfolio in line with the Fund’s holistic energy transition mandate.

SUSI Partners is an infrastructure investment manager with an exclusive focus on, and a proven track record across, the wide spectrum of investment opportunities arising from the global energy transition.

The firm aims to invest institutional capital across the energy transition infrastructure spectrum to generate attractive risk-adjusted returns for our clients and their beneficiaries while contributing to global climate neutrality.

The company has so far completed more than 140 transactions covering more than 20 countries.

Its total capital deployed stood at EUR 1.6 billion ($1.75 billion) while its investor commitment stood at EUR 1.9 billion ($2.08 billion).

SUSI Partners sets up Southeast Asian renewables platform