ABC World Asia closes fund for impact investing at $385m

This article is more than 12 months old

Oct 30, 2019 06:00 am

ABC World Asia, a private equity fund for impact investing established in May by Temasek Trust, has closed its inaugural fund at $385 million.

Temasek Trust, the philanthropic arm of state investment company Temasek Holdings, is an independent trustee of philanthropic endowments and gifts. Its purpose is to ensure sustainable funding for the long-term well-being and security of communities.

ABC World Asia's inaugural fund saw the participation of investors such as Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings and Sembcorp Industries.

The Asia-focused fund will explore investments in China, South-east Asia and South Asia. It will look for companies which commit to generating positive, measurable social or environmental impact, alongside sustainable financial returns.

The fund will focus on themes such as financial and digital inclusion, better health and education, climate and water solutions, sustainable food and agriculture, and smart and liveable cities.

ABC World Asia chief executive David Heng said the investors in the fund bring "deep and complementary experience spanning various markets and sectors". - THE STRAITS TIMES