SUSI Partners has raised $139m in additional investor capital for its Southeast Asia-focused strategy, more than doubling its size to $259m, with sizeable commitments from British International Investment (BII) and Dutch development bank FMO.
SUSI, which focuses on mid-market private infrastructure opportunities arising from the global energy transition, has secured $70m and $50m, respectively from BII and FMO, 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).
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 $120m, the fund was reopened in 2024 based on strong deal flow and demand from LPs.
Through SARA, SUSI, 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.
