AmWater Investments Management Pte Ltd said the Asia Water Fund had received total commitments of US$69mil as of its first close on April 15, with anchor investors of the fund comprising of the International Finance Corp, the Asian Development Bank, Kumpulan Wang Persaraan of Malaysis and AmBank Group.
The main purpose of the fund is to return private equity type returns to its investors and act as a catalyst for more Public Private Partnerships in the Asian water sector.
The Asia Water Fund will invest 70 per cent of its portfolio in China, and 30 per cent in South East Asia. The portfolio will be diversified into municipal water supply and wastewater treatment, industrial water supply and waste disposal, desalination, river and lake rehabilitation, rural water and waste treatment and other green water ventures.
The fund will continue raising capital until the end of 2011 and the targeted fund size will be up to US$200 million.
AmWater is wholly owned by Malaysian Ventures Management Incorporated Sdn Bhd, a subsidiary of AmInvestment Group Bhd.
