TOKYO: Temasek Trust has agreed to invest US$50mil in an HSBC Asset Management-owned Japanese solar energy company.
ABC Impact, a unit of the Singapore firm, will acquire a stake in Tokyo-based Tekoma Energy, spokespeople for ABC Impact and HSBC confirmed.
Tekoma will use the new fund to develop and upscale solar photovoltaics projects.
Impact investing has been one of the most talked strategies recently among global funds.
While in Asia managers are trying to expand their impact investing portfolio, funds in Europe and the United States are dealing with stricter rules regarding standards and disclosure practices.
Tekoma started in Japan in 2013 and expanded to Taiwan in 2018.
HSBC’s energy transition infrastructure team first acquired the firm in 2023.
ABC Impact manages more than US$850mil.
It secured some US$550mil for its second impact fund in January.
Temasek Trust receives its funding primarily from Temasek Holdings Pte Ltd.
HSBC Asset Management has US$765bil in portfolio as of the end of September.
It manages US$70bil in strategies on environmental, social and governance, as well as sustainability in 2023. — Bloomberg
