Ant Global plans Indonesian cleantech fund

The Singapore-based firm will reportedly work with Indonesia’s Ministry of Finance to raise $250m for water treatment and renewable energy projects throughout Indonesia. Ant Global is also raising a $400m direct secondaries fund for Japanese and Taiwanese deals.

Ant Global Partners plans to launch a cleantech-focused private equity fund for investments in Indonesia. The firm declined to comment on details, but did say it was also exploring other opportunities in Southeast Asia.

“Indonesia is a very big market, with about 240 million people, accounting for two-fifths of ASEAN's population, and yet surprisingly it's an overlooked market for cleantech investment,” Kim Jung Kyu, a vice president at Ant Global, told Reuters.

The firm is planning to raise $250 million for the fund, which will invest in water treatment and renewable energy projects in Indonesia, the report noted. The fund will be raised in partnership with Indonesia’s Ministry of Finance and Government Investment Unit, Indonesia’s sovereign fund, will raise 10 percent of the fund.

Ant Global is also currently in the market with Ant Bridge Asia IV, a secondaries fund focused on Japan and Taiwan. That fund, which is targeting a $400 million final close, is primarily focused on direct secondaries in the two countries, but about 20 percent of the fund’s capital will also be used to acquire limited partner interests in funds.

Ant Global presently manages assets of about $300 million. It is the international investment arm of Ant Capital Partners, formerly known as Nikko Antfactory. Ant Capital Partners, which spun out of Nikko Citi Holdings in October 2008, manages assets of about $1.4 billion.