Singapore state investment company Temasek Holdings and UK lender HSBC Holdings have launched a sustainable infrastructure debt financing firm called Pentagreen Capital that aims to make US$1 billion of loans within the next five years.
Pentagreen will start with $150 million of capital jointly committed by the two partners, Temasek and HSBC say in a joint statement recently. It will operate independently from the founding partners.
Marat Zapparov, who was unit head for Asia project development and investment at International Finance Corp, the World Bank’s private sector arm, has been hired as chief executive officer of Pentagreen.
Stuart Lea, HSBC’s head of global banking for South Asia and global head of real assets finance, and Connie Chan, Temasek’s managing director for investment, financial services, will sit on Pentagreen’s board, which will be chaired by Kai Nargolwala.
Nargolwala is chairman of Singapore Pools and also sits on the board of local private equity firm 65 Equity Partners.
Temasek had a net portfolio value of S$403 billion ($292.3 billion) as of end-March 2022. HSBC had $2.96 trillion of assets as of end-2021.
