Singapore’s ABC Impact, a private equity firm backed by state investor Temasek Holdings, has completed final closing of its second fund at US$600 million, double the size of the predecessor fund.
Investors in the ABC Impact Fund 2 include Temasek, local alternative investment firm SeaTown Holdings, local real estate investor Mapletree Investments, and the Asian Development Bank, ABC Impact says in a statement on April 15.
Other investors were a US family office and a Southeast Asian wealth fund – neither of which were identified – as well as ultra-high-net worth individuals.
Their investments underscore “the trust that leading institutional investors have placed in ABC Impact’s disciplined investment strategy”, says Tow Heng Tan, the firm’s chairman.
According to Benoit Valentin, head of impact investing at Temasek, the world is facing “increasingly complex and far-reaching social and environmental challenges” and by working together, the state investment company and ABC Impact can create “a more inclusive and sustainable world where every generation prospers”.
“Our partnership with ABC Impact is a core pillar of Temasek’s impact investing strategy, reflecting our belief that impact investing can scale capital to address the pressing issues we are facing,” he says. “By welcoming external capital from the likes of Asian Development Bank, we are deepening our commitment to shaping a more sustainable and inclusive future in Asia.”
