

The fund only recently started its investment activity and has yet to undertake any transactions, an ADB spokesperson said. ACP established its headquarters in Hong Kong last October.
Typically it will invest more than $20 million in midmarket private companies operating in ACP’s target sectors, including agribusiness, renewable energy, energy efficiency and environmental service, and targeting a 20 percent gross return.
ACP may establish a follow-on fund once it has deployed more than 75 percent of its capital, the spokesperson said.
Last month, The Bank of Tokyo-Mitsubishi UFJ agreed to commit $30 million to the fund, according to a statement.
The bank is looking for opportunities in India, China and south-east Asia. It also wants to back businesses which are working to resolve issues such as air and water pollution, electricity shortages, and inefficient utilisation of energy and natural resources in those countries and regions.
ACP has an initial capitalisation of $400 million from its founding partners and other investors, including approximately $100 million each from ADB, ORIX and the UK Government, according to reports.