Seraya Partners, the Asia-based independent private equity fund for next-generation infrastructure investing, has on Tuesday announced the completion of its first fund, “Seraya Partners Fund I” at $800 million.

Seraya Partners said in a statement that the final investment which included co-investments has surpassed its $750 million target.

According to the statement, 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.

Its limited partners include Asian Infrastructure Investment Bank (AIIB), Alberta Investment Management Company (AIMCo), and funds and accounts managed by Blackrock.

“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,” said James Chern, Managing Partner and Chief Investment Officer of Seraya Partners.

“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,” he added.

Cited the Asian Development Bank (ADB), the statement said approximately $1.7 trillion will have to be invested annually in infrastructure across Asia through 2030 to meet current demand.

Seraya Partners said it has identified supply and demand gaps within the energy transition and digital infrastructure space and has made a solid start to deployment.

It also noted that 50 percent of its funds already allocated to the following three platforms: Empyrion DC; Cyan Renewables and Astrid Renew.

Empyrion DC is Asia’s first green data center operator. It develops and operates highly energy-efficient hyperscale and colocation data centers, and employs renewable energy to power its data centers.

It is also 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 specialized 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. It also 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.

Seraya Partners said 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, it said 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.

“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,” said Dong-ik Lee, AIIB Director General, Banking Department.

“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,” he added.

Seraya Partners is an Asia-based independent private equity fund for next-generation infrastructure investing, headquartered in Singapore.

The team has a combined experience of 150 years in infrastructure investing.

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 Asia-Pacific region and Southeast Asia.

The firm has offices in Singapore, Taipei, Seoul, Tokyo, and Denmark.

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