First Eastern backs Sustainable Development Capital
First Eastern Investment Group, a Hong Kong-based investor with interests in private equity and venture capital, has acquired a minority stake in Sustainable Development Capital (SDCL). The two firms have also set up an Asia-focused joint venture.
First Eastern's participation continues its strategy of investing in mid-sized British companies with strategies to expand in Asia.
SDCL, which is headquartered in London and with offices in Hong Kong and New York, focuses on energy efficiency project development and finance. It also specializes in sustainable infrastructure assets and services including energy, water, waste, transport, healthcare and education.
The firm's clients include public and private sector financial institutions, investment funds, corporations and project developers in the environmental and social infrastructure markets.
Victor Chu, Chairman and CEO of First Eastern, said SDCL's experiences in the field of sustainable development caught the group's attention.
"At a time when the world's population has reached seven billion people, the issue of sustainable development is pivotal in the minds of policy makers worldwide," Chu said. "SDCL's focus on energy efficiency addresses an urgent need for capital and expertise in a market that represents potentially the largest and cheapest source of clean energy and greenhouse gas emission reductions."
Commenting on the deal, Jonathan Maxwell, founding partner and CEO of SDCL, said: "The partnership will leverage First Eastern's expertise in infrastructure, private equity and financial services investment, strengthening our platform in China and other key markets in the region."
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