Armstrong Fund Raises US$130 Million at Third Closing (Asia)

Source: Armstrong Asset Management

Southeast Asia-focused clean energy investor Armstrong Asset Management has reached a US$130 million third close on its Armstrong South East Asia Clean Energy Fund. Investors in the third close include International Finance Corporation (IFC), IFC Asset Management Company’s IFC Catalyst Fund, the Netherlands Development Finance Company (FMO) and the Swiss Investment Fund for Emerging Markets (SIFEM). The fund held its initial close in August 2012 at US$65 million and its second close in May 2013 at US$85 million. The fund typically invests US$5 million to US$12 million per project, targeting Southeast Asia-based renewable energy and resource efficiency facilities that generate up to ten MW from solar, hydro, wind or biogas.