SUSI Partners, through the SUSI Asia Energy Transition Fund (SAETF), has successfully realized its investment in Singapore-based renewable energy developer Alba Renewables (Alba), following Alba’s acquisition by leading global investment firm Brookfield.

This transaction marks SUSI’s first exit through its dedicated Asia strategy, which invests in energy transition infrastructure projects across Southeast Asia, SUSI said in a statement on Wednesday.

SAETF’s investment in Alba was structured as a convertible loan focused on funding the construction of Alba’s first utility-scale renewable energy projects in the Philippines, as well as Alba’s project development activities in the region.

With Brookfield’s acquisition of Alba, SAETF’s convertible loan has been repaid at undisclosed terms.

This exit demonstrates SUSI’s ability to deliver early realizations while continuing to consolidate its portfolio and scale its key platforms.

It further attests to the attractive opportunities available to early movers in Southeast Asia’s energy transition, as global capital markets increasingly recognize the potential for both returns and impact in emerging Asian markets.

Key platforms in SAETF’s current portfolio include SARA, a utility-scale renewable energy company established in cooperation with British International Investment and FMO; OASIS, a commercial and industrial (C&I) solar PV platform created through the consolidation of several C&I solar PV investments; and Sustainable Energy Solutions Partners (SESP), a waste-to-energy biogas platform in Thailand.

To date, the fund has invested in projects in Vietnam, the Philippines, Thailand, and Cambodia.

SUSI Partners raises $139M from BII, FMO for Southeast Asia renewable assets