Equis Funds Group completes US$1.7 billion capital raising

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Equis Funds Group completes US$1.7 billion capital raising

Equis Funds Group, Asia's largest independent energy and infrastructure private equity fund manager, has completed a US$1.7 billion capital raising for Asian energy and infrastructure investments.

This brings Equis' total funds under management to US$2.7 billion.

Equis is currently financing the development, construction and operation of more than 1 GW of renewable energy in Asia, positioning Equis as the most comprehensive renewable energy developer and owner in the region. Equis also develops, constructs and operates mid-stream oil and gas, conventional power, bulk energy and general transportation and telecommunication infrastructure and assets across Asia.

The capital raising comprised a single close of US$1 billion for Equis Asia Fund II and a single close of US$300 million for Equis Direct Investment Fund. An additional US$400 million from existing partners has also been directly committed to Japan Solar and Energon, two existing Equis Controlled Platforms (ECPs) under Fund I.

Fund II will be deployed over a three to four year period into Equis' exclusive investment pipeline, which is supported by one of the largest infrastructure-focused management networks in Asia.

Equis CEO, David Russell, stated:

"The overwhelmingly positive response demonstrates confidence in our investment track record and success. We expect our ECPs to more than double the US$700 million of direct co-investment capital we currently manage over the Fund II investment period, facilitating the continual development of new strategic relationships."

Sponsorship by Fund I partners accounted for US$990 million or 58% of the capital raising, and included DEG, FMO, the Netherlands Development Finance Company, MassMutual and Partners Group. The remaining US$710 million or 42% was raised from new investors.

Mr. Russell added:

"The end of 2014 was particularly busy with the successful closing of capital commitments into and commencing construction of new solar generation projects in Japan and the Philippines, new wind generation projects in India and the Philippines, and a new bioenergy project in the Philippines. This momentum has continued into 2015 with the first three investments under Fund II."

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