SUSI Partners has raised USD 139 million additional investor capital for its Southeast Asia-focused strategy, increasing its total size to USD 259 million. The capital raise was mainly driven by sizeable additional commitments from British International Investment (“BII”), the UK’s development finance institution and impact investor, and FMO, the Dutch entrepreneurial development bank.
SUSI Partners has secured USD 70 million and USD 50 million from BII and FMO, respectively, through co-investment commitments to Sustainable Asia Renewable Assets (“SARA”), a newly established utility-scale renewable energy platform, and top-up commitments to the SUSI Asia Energy Transition Fund (“SAETF”). Complemented by further commitments to SAETF from existing and new investors, SUSI has more than doubled the size of its Southeast Asia-focused strategy from USD 120 million to USD 259 million.
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With a presence in Singapore since 2019, SUSI has been an early mover in the Southeast Asian energy transition. After closing SAETF in 2023 at USD 120 million, the fund was reopened in 2024 based on strong deal flow and demand from LPs.
Through SARA, SUSI Partners, in close partnership with co-investors BII and FMO, aims to build a 500 MW portfolio of greenfield renewable energy projects across selected Southeast Asian markets by the end of SAETF’s fund life. The initial focus of the platform will be on getting greenfield projects into construction and operation. There are also plans for SARA to develop its own proprietary pipeline of projects across Southeast Asia to create a scalable and independent renewable power platform. The Dam Nai wind farm in Vietnam, which SUSI acquired on behalf of SAETF in October 2024, will become SARA’s cornerstone asset.
SAETF’s current portfolio focuses on utility-scale renewable energy projects as well as distributed generation and energy efficiency projects with commercial and industrial customers across emerging Southeast Asian markets. To date, the fund has invested in projects in Vietnam, the Philippines, Thailand, and Cambodia.
Due to Southeast Asia’s growing position as a global manufacturing and industry hub, the region is projected to account for more than a quarter of global energy demand growth until 2035, according to the International Energy Agency (“IEA”). Given that nearly 80% of Southeast Asia’s rise in energy demand has been met by fossil fuels since 2010, the climate impact per dollar invested in the region’s energy transition is among the highest globally.
Thanks to its strong local expertise and networks, SUSI’s dedicated team based in Singapore is uniquely qualified to navigate the distinctive political, economic, and social characteristics of Southeast Asian countries. Given the favourable economic outlook, the emergence of supportive policy frameworks, and the region’s substantial climate mitigation potential, SUSI Partners remains committed to directing institutional capital towards the build-out of energy transition infrastructure in the region in partnership with its clients.
About SUSI Partners
Founded in 2009, SUSI Partners is Swiss-based investment manager with an exclusive focus on, and a proven track record across, private, mid-market investment opportunities arising from the global energy transition.
