Singapore’s Fullerton Fund Management has raised S$100 million ($74.4 million) in the anchor close of its Fullerton Carbon Action Fund, a private equity vehicle.
Seviora Group, a Singapore-based asset management group wholly owned by Temasek Holdings, and Income Insurance Limited, a Singapore insurer, are the anchor investors for this strategy, Fullerton said in a statement yesterday.
The fund targets the climate market opportunity in emerging Asia countries. Fullerton said Asia accounts for more than half of the world’s carbon emissions and represents a $5 trillion climate investment opportunity by 2030.