Temasek-backed climate investment platform GenZero has acquired the Asian Infrastructure Investment Bank (AIIB)’s stake in Seraya Partners Fund I in a secondary transaction, according to an announcement. Financial terms of the deal remain undisclosed.
The deal gives GenZero exposure to energy transition and digital infrastructure assets across Asia. It also reflects the platform’s conviction that the Asia Pacific will continue to play a critical role in global decarbonisation.
“The acquisition of AIIB’s stake provides GenZero with exposure to a portfolio of high-quality operating infrastructure assets, while enabling development capital to be recycled into the next frontier of climate solutions,” said Kimberly Tan, head of investments at GenZero.
Seraya Partners Fund I is an Asia-focused mid-market infrastructure fund managed by Singapore-based Seraya Partners. The fund invests in sectors linked to the region’s energy transition and sustainable infrastructure buildout, including offshore wind services and low-carbon data centres.
Its portfolio includes Cyan Renewables, a marine energy transition operator with 35 specialised vessels serving offshore wind and energy developers, and Empyrion Digital, a pan-Asia low-carbon data centre operator with 290 megawatts of operating and under-construction IT capacity.
AIIB said the transaction showed how secondary markets can help mobilise additional private capital for sustainable infrastructure in Asia.
“As the region continues to face climate and development financing needs, AIIB will remain committed to working with partners to strengthen market confidence and channel long-term private capital across the region,” said AIIB’s Kim-See Lim.
GenZero was launched by Temasek to invest in decarbonisation opportunities across nature-based solutions, technology-based solutions, and carbon market enablers.
Seraya Partners manages about $2.5 billion in assets for institutional investors, including sovereign wealth funds, pension funds, and insurers.
DealStreetAsia reported in January that the firm was nearing the first close of its second fund at around $650 million.
