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A fund managed by BlackRock is acquiring a stake in a 310-megawatt wind farm in Kenya, the largest in the African continent. The stake in Lake Turkana Wind Power Limited (LTWP), which owns and operates the wind farm, is held by the Finnish Fund for Industrial Cooperation (Finnfund). The fund, a development financier and impact investor, has been a shareholder in LTWP since construction of the wind farm began in 2014.
22 Mar 2023
Editor's choice
“What could possibly go wrong?” That was how I ended my previous column for The Asset at the end of February, referencing the uphill battle Credit Suisse (CS) – Europe’s remaining large-bank outlier – still faced to make its restructuring work and regain the market’s trust. Alas, once clients start to bail on you, banks ditch counterparty exposures and neutralize all touchpoints, and the market loses confidence, it tends to signal the beginning of the end.
20 Mar 2023
Editor's choice
KfW Ipex-Bank is contributing €40 million (US$42.8 million) to a €400 million debt facility for Allego, a pan-European charge-point operator, to fund a pipeline of contracts and expand its network of ultra-fast electric-vehicle chargers across key sites in Germany, France and Benelux.
22 Mar 2023
Editor's choice
Keppel Corp has reached a long-term power purchase and export agreement with Cambodia’s Royal Group Power to buy electricity from Cambodia and Laos. Singapore’s Energy Market Authority (EMA) has conditionally approved long-term imports and sales of one gigawatt of low-carbon electricity from renewable energy sources by wholly owned unit Keppel Energy, Keppel says in a statement.
20 Mar 2023
Editor's choice
Bursa Carbon Exchange (BCX), Bursa Malaysia’s new carbon trading platform, completed its first carbon credit auction with domestic buyers acquiring all the available Verra-registered carbon credits. The auction, which was carried out electronically, saw 15 participants from various industries purchasing a total of 150,000 credits.
20 Mar 2023
Editor's choice
Hong Kong people struggled to maintain healthy money habits amid the pandemic last year, resulting in a slight drop in their financial fitness, a new report finds. Nonetheless, 59% of the surveyed respondents achieved a return of at least 2% from their liquid assets, against the local inflation rate of 1.9% and a 15.5% fall in Hang Seng Index during the period, according to HSBC’s fourth FinFit study.
17 Mar 2023
Editor's choice
Khan Bank, Mongolia’s largest commercial financial institution, has issued the first-ever green bond to be issued in the country, a US$60 million, five-year offering. The International Finance Corporation (IFC) is investing US$15 million in the offering, which has attracted another US$45 million from international investors, including US$35 million from Dutch entrepreneurial development bank FMO and US$10 million from MicroVest Capital Management.
17 Mar 2023
Editor's choice
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Asset managers must make available separately managed accounts (SMAs), exchange-traded funds (ETFs), environmental, social, and governance (ESG)-oriented products, and other portfolio elements that appeal to advisers’ needs for flexibility and products emphasizing lower cost and sustainability, Cerulli Associates says.
16 Mar 2023
Editor's choice
Singapore banking group DBS and private equity and venture capital investment firm Heritas Capital have announced the first close of the Asia Impact First Fund (AIFF). The fund has now raised over US$20 million, led by anchor investor DBS, which committed US$10 million, and like-minded impact-focused family offices, foundations, corporates and high-net-worth individuals.
15 Mar 2023
Editor's choice
ESG Forum
Khan Bank, Mongolia’s largest commercial financial institution, has issued the first-ever green bond to be issued in the country, a US$60 million, five-year offering. The International Finance Corporation (IFC) is investing US$15 million in the offering, which has attracted another US$45 million from international investors, including US$35 million from Dutch entrepreneurial development bank FMO and US$10 million from MicroVest Capital Management.
17 Mar 2023
Singapore banking group DBS and private equity and venture capital investment firm Heritas Capital have announced the first close of the Asia Impact First Fund (AIFF). The fund has now raised over US$20 million, led by anchor investor DBS, which committed US$10 million, and like-minded impact-focused family offices, foundations, corporates and high-net-worth individuals.
15 Mar 2023
DBS, Citi, MUFG, and HSBC take home accolades in The Asset Triple A Sustainable Capital Markets Awards 2023 as announced in an Oscar-style awards ceremony held last night (March 14) at the Four Seasons Hotel in Hong Kong.
15 Mar 2023
Reinvigorated IMAS pushes digitization, diversity, education post-pandemic
14 Mar 2023
Climate change is perhaps the most significant financial risk for investors over the long term, according to Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).
13 Mar 2023
Chinese fintech’s first sustainability-linked derivative incentivizes meeting various ESG targets
10 Mar 2023
More female investors than men value sustainability, 9 in 10 wish to create more social change
9 Mar 2023
Sustainable tourism, fisheries promoted along with marine conservation
8 Mar 2023
Facility one of largest ESG commercial bank loans in Asia-Pacific, second-largest social loan globally
1 Mar 2023
The Asset Talk
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TechTalk
Blackstone’s US$70 billion real estate income trust (BREIT) is now trading on LODASMarkets.com, a Kansas-based online marketplace for buying and selling alternative and real estate investments.
22 Mar 2023
Solution allows Thai portfolio manager to deliver most up-to-date capabilities, better cost control
21 Mar 2023
Digital platform companies could deploy the latest wave of artificial intelligence much more responsibly than they have so far, and two current court cases serve as warnings to those pursuing socially destructive business models. But we also need concerted public-policy action to fix the industry
16 Mar 2023
Asian expansion comes as markets experience corporate, leisure travel rebound
15 Mar 2023
Although Silicon Valley Bank itself was not systemically important to the US financial system, it could signal more widespread problems that are only just coming into view. Many other banks also have large portfolios of long-dated securities and would incur heavy losses if sold before maturity
15 Mar 2023
Agros, an agritech start-up based in Singapore, has raised US$2.7 million in a pre-Series A funding round led by Gaia Impact Fund and Schneider Electric Energy Access Asia.
14 Mar 2023
Meyer Frucher, a former NASDAQ vice-chair, has over 25 years of stock exchange experience
14 Mar 2023
China was supposed to be the main beneficiary of a shift away from the dollar by countries fearing its "weaponization" by US authorities. So why isn't diversification toward the renminbi visible in data on foreign reserves and international payments?
14 Mar 2023
Digital service provider Azqore has appointed Pierre Masclet as chief executive officer, effective May 1. He succeeds Pascal Exertier, who is retiring.
13 Mar 2023
For decades, tech platforms were left mostly free to do as they wished, and the harm caused by this approach has become obvious. Fortunately, the European Union has been pushing back on behalf of democratic and humanistic values, and it is now finalizing its biggest legislative and regulatory contribution yet
12 Mar 2023
The GrowHub, a Singapore-based food and agritech start-up, has raised US$3 million in a pre-Series B funding round from a number of individual investors including the company’s founder and chief executive officer Lester Chan.
10 Mar 2023
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Insightful debate among regulators, issuers and investors -
Award CeremonyDigital AwardsApr 2023
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RoundtableBreaking barriers: Financing the sustainability agenda in Asia-PacificMay 2023
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Award CeremonyTreasurise AwardsMay 2023
Treasury & Capital Markets
The International Finance Corporation (IFC) is providing Saigon-Hanoi Commercial Joint Stock Bank (SHB) of Vietnam with an initial US$40 million loan to help expand access to finance by small and medium enterprises (SMEs), especially those owned by women. In a deal announced on March 21, the US$40 million facility is the first phase of an overall planned US$120 million financing package to help SHB provide more support for local enterprises and boost their participation in the global supply chain.
22 Mar 2023
Singapore-based OCBC Bank on Tuesday (March 21) officially opened a branch in Wuhan, the capital of Hubei Province in Central China, under its wholly-owned China banking subsidiary OCBC Wing Hang Bank (China) Limited.
21 Mar 2023
Global law firm DLA Piper has appointed Waranon Vanichprapa as sole country managing partner in Bangkok, effective immediately, in a move to further strengthen its Southeast Asia footprint.
20 Mar 2023
Bursa Carbon Exchange (BCX), Bursa Malaysia’s new carbon trading platform, completed its first carbon credit auction with domestic buyers acquiring all the available Verra-registered carbon credits. The auction, which was carried out electronically, saw 15 participants from various industries purchasing a total of 150,000 credits.
20 Mar 2023
Singapore-based OCBC Bank has launched a financing solution that incentivizes corporates to set and work towards clear carbon emissions reduction targets aligned with internationally recognized, science-based decarbonization pathways for their sectors. Under the OCBC 1.5°C loan programme, corporates will get a reduced interest rate on the borrowed amount when the targets are met or exceeded.
20 Mar 2023
Khan Bank, Mongolia’s largest commercial financial institution, has issued the first-ever green bond to be issued in the country, a US$60 million, five-year offering. The International Finance Corporation (IFC) is investing US$15 million in the offering, which has attracted another US$45 million from international investors, including US$35 million from Dutch entrepreneurial development bank FMO and US$10 million from MicroVest Capital Management.
17 Mar 2023
Bank of China (Hong Kong) (BOCHK) has executed its first three-month green renminbi reverse repurchase transaction amounting to 500 million yuan (US$72.5 million). Crédit Agricole Corporate and Investment Bank acted as the counterparty of the trade.
15 Mar 2023
DBS, Citi, MUFG, and HSBC take home accolades in The Asset Triple A Sustainable Capital Markets Awards 2023 as announced in an Oscar-style awards ceremony held last night (March 14) at the Four Seasons Hotel in Hong Kong.
15 Mar 2023
The Depository Trust & Clearing Corporation (DTCC) has rolled out a centralized communication solution to support the financial industry’s transition from the Libor benchmark rates to the secured overnight financing rate (Sofr) and other new fallback rate indices by June 30 2023.
14 Mar 2023
Wealth
Blackstone’s US$70 billion real estate income trust (BREIT) is now trading on LODASMarkets.com, a Kansas-based online marketplace for buying and selling alternative and real estate investments.
22 Mar 2023
Allfunds, a B2B wealthtech platform for the funds industry, has launched a new division to provide clients with better access to alternative assets and private markets.
22 Mar 2023
First Sentier Investors (FSI) has agreed to acquire a majority stake in European credit manager AlbaCore Capital Group.
21 Mar 2023
Natixis Corporate and Investment Banking has appointed Amit Tanna as head of coverage, India. Based in Hong Kong, Tanna reports to Francis Ansvananda, head of coverage, South East Asia.
21 Mar 2023
Aviva Investors, the global asset management business of British insurer Aviva plc, has appointed Mirza Baig to the new role of global head of ESG, subject to regulatory approval.
21 Mar 2023
Hong Kong people struggled to maintain healthy money habits amid the pandemic last year, resulting in a slight drop in their financial fitness, a new report finds. Nonetheless, 59% of the surveyed respondents achieved a return of at least 2% from their liquid assets, against the local inflation rate of 1.9% and a 15.5% fall in Hang Seng Index during the period, according to HSBC’s fourth FinFit study.
17 Mar 2023
German asset manager DWS has extended its strategic alliance with Nippon Life for another five years to enhance distribution reach, product innovation and research acuity.
16 Mar 2023
Asset managers must make available separately managed accounts (SMAs), exchange-traded funds (ETFs), environmental, social, and governance (ESG)-oriented products, and other portfolio elements that appeal to advisers’ needs for flexibility and products emphasizing lower cost and sustainability, Cerulli Associates says.
16 Mar 2023
Singapore banking group DBS and private equity and venture capital investment firm Heritas Capital have announced the first close of the Asia Impact First Fund (AIFF). The fund has now raised over US$20 million, led by anchor investor DBS, which committed US$10 million, and like-minded impact-focused family offices, foundations, corporates and high-net-worth individuals.
15 Mar 2023
Mumbai-based Bandhan Mutual Fund has launched what it says is India’s first US debt (ETF) fund, an open-ended fund of fund investing in units of overseas index funds or exchange-traded funds which track an index with US treasury securities with a maturity range of zero to one year as its constituents. The Bandhan US Treasury Bond 0-1 Year Fund of Fund offers investors a convenient route to create a US dollar asset that benefits from the relatively high quality, reasonable safety, and current high yield of US treasuries.
15 Mar 2023
Endowus, a digital wealth management platform based in Singapore, has appointed Hugh Chung as its chief investment advisory officer.
14 Mar 2023
Asia Connect
Daewoo Engineering & Construction has signed a US$790 million agreement with General Electricity Company of Libya to build gas-fired power stations in the Mellitah and Misurata regions.
22 Mar 2023
The European Bank for Reconstruction and Development (EBRD) has approved a €300 million (US$321 million) financing package to help support Serbia’s electricity sector.
22 Mar 2023
KfW Ipex-Bank is contributing €40 million (US$42.8 million) to a €400 million debt facility for Allego, a pan-European charge-point operator, to fund a pipeline of contracts and expand its network of ultra-fast electric-vehicle chargers across key sites in Germany, France and Benelux.
22 Mar 2023
A fund managed by BlackRock is acquiring a stake in a 310-megawatt wind farm in Kenya, the largest in the African continent. The stake in Lake Turkana Wind Power Limited (LTWP), which owns and operates the wind farm, is held by the Finnish Fund for Industrial Cooperation (Finnfund). The fund, a development financier and impact investor, has been a shareholder in LTWP since construction of the wind farm began in 2014.
22 Mar 2023
Keppel Corp has reached a long-term power purchase and export agreement with Cambodia’s Royal Group Power to buy electricity from Cambodia and Laos. Singapore’s Energy Market Authority (EMA) has conditionally approved long-term imports and sales of one gigawatt of low-carbon electricity from renewable energy sources by wholly owned unit Keppel Energy, Keppel says in a statement.
20 Mar 2023
The Philippines' largest integrated telco PLDT on March 16 announced a new tower sale and leaseback transaction by its subsidiaries Smart Communications and Digitel Mobile Philippines involving 1,012 telecom towers and associated passive telecom infrastructure. The company signed a sale and purchase agreement with Frontier Tower Associates Philippines for over 12.1 billion pesos (US$221.20 million).
17 Mar 2023
American carrier Southwest Airlines has agreed to purchase over 400,000 carbon credits from SMBC Aviation Capital.
15 Mar 2023
Greek utility Public Power Corporation (PPC) has agreed to acquire all of the equity interests held by Italian energy giant Enel and its subsidiaries in Romania for €1.26 billion (US$1.35 billion).
15 Mar 2023
BNP Paribas, Crédit Agricole, Citibank, HSBC, and JPMorgan Chase have signed a debt package for the first phase of the Sal de Oro lithium brine project in Argentina. The Sal de Oro lithium brine project is one of the most important lithium brine projects in Argentina, and is being developed by South Korea’s Posco, one of the world’s largest steel manufacturers.
15 Mar 2023
Japan’s Nippon Export and Investment Insurance (NEXI) is providing insurance for commercial bank loans extended to Red Sea Wind Energy, a project company building a 500-megawatt wind farm in Egypt. This is the first co-financing between NEXI and the European Bank for Reconstruction and Development (EBRD) based on a memorandum of understanding signed in 2020.
15 Mar 2023
Mongolia’s Prime Minister Luvsannamsrain Oyun-Erdene on Tuesday (March 14) joined Rio Tinto chief executive Jakob Stausholm 1.3 kilometres underground to celebrate the start of underground production at the Oyu Tolgoi copper mine in the Gobi Desert.
14 Mar 2023
On The Move
Natixis Corporate and Investment Banking has appointed Amit Tanna as head of coverage, India. Based in Hong Kong, Tanna reports to Francis Ansvananda, head of coverage, South East Asia.
21 Mar 2023
Aviva Investors, the global asset management business of British insurer Aviva plc, has appointed Mirza Baig to the new role of global head of ESG, subject to regulatory approval.
21 Mar 2023
Global law firm DLA Piper has appointed Waranon Vanichprapa as sole country managing partner in Bangkok, effective immediately, in a move to further strengthen its Southeast Asia footprint.
20 Mar 2023
Meyer Frucher, a former NASDAQ vice-chair, has over 25 years of stock exchange experience
14 Mar 2023
Endowus, a digital wealth management platform based in Singapore, has appointed Hugh Chung as its chief investment advisory officer.
14 Mar 2023
Digital service provider Azqore has appointed Pierre Masclet as chief executive officer, effective May 1. He succeeds Pascal Exertier, who is retiring.
13 Mar 2023
Citi has appointed Bhanu Vohra as head of commercial banking, India. He replaces Tushar Vikram, who becomes the global head of healthcare for CCB.
10 Mar 2023
Rushil Khanna has over 20 years of experience in equity portfolio management
9 Mar 2023
Ocorian, a provider of administration and compliance services to financial institutions, asset managers, corporates and high-net-worth individuals, has appointed Novia Lu as business development director for Asia-Pacific as it strengthens its presence in the region.
7 Mar 2023
Singapore-based multi-family office Golden Equator Wealth (GEW) has expanded its market coverage and team of family office advisers with the appointment of Rai Rummaan Kharal as a managing partner of wealth and capital and Haroon Tufail as an executive director.
7 Mar 2023
PGIM has appointed Murray Brewer as head of institutional relationship group (IRG) for Australia and New Zealand, effective March 1. Based in Sydney, he is responsible for leading the firm’s growth plans and continued expansion of its institutional client base throughout the region.
6 Mar 2023
