Singapore private equity manager 8F Asset Management, which focuses on impact investments, closed its aquaculture fund at US$358 million, drawing interest from global institutional investors and the fish farming industry.
The amount raised for the 8F Aquaculture Fund I exceeded the initial target of $300 million, the company says in a statement on March 18.
It says the money will be used to finance the company’s fish farming unit, Pure Salmon, and to acquire and develop aquaculture facilities and sites in Poland, Japan, France, US, China and Southeast Asia.
The company says investors in the fund, its first, include institutions such as sovereign wealth funds, pension funds and family offices in Europe, Asia, the Middle East, Latin America and the US, as well as the fish farming industry, such as Israel’s AquaMaof Aquaculture Technologies.
“Our inaugural fund has met with very strong investor demand that considerably exceeded our initial final closing amount. We are proud of this milestone for 8F,” Stephane Farouze, the company’s founder and chairman, says in the statement.
Established in 2016, 8F Asset Management has offices in Hong Kong, London, and Frankfurt.
The company does not disclose its assets data.
