TOKYO - Orix Corp., its Dutch asset management firm subsidiary Robeco Group N.V. and the Asian Development Bank said Monday they will set up a fund that will invest in climate and energy-linked transactions in Asia.
The fund, Asia Climate Partners, will also target projects related to reducing emissions of carbon dioxide in the Asian region.
Orix said they plan to set up the fund this year, with an initial capital of $400 million. ADB and Orix will each invest $100 million and the rest will be shouldered by institutional investors.
Robeco will be responsible mainly for managing the fund for private equity investments, with stakeholders hoping to eventually expand the entity into a billion-dollar fund.