HKMA has partnered with ADB, AIIB, and IFC to boost sustainable finance in Asia, while Apollo and Mubadala have extended their multi-billion-dollar partnership to seize global origination opportunities.
HKMA joins hands with ADB, AIIB & IFC to boost sustainable finance in Asia
The Hong Kong Monetary Authority (HKMA) has partnered with the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and the International Finance Corporation (IFC) to advance sustainable finance in Asia.
The alliance aims to strengthen climate action in the region, with Actis joining as one of the general partners supporting the initiative. It aims to deploy at least $500 million in Asia, according to an announcement at the Asia Climate Investment Seminar on Monday.
Emphasising a collaborative approach, the focus will be on investments in sectors that contribute to achieving net zero emissions and reducing greenhouse gases in the region, including renewable energy infrastructure, energy solutions, and sustainable transportation.
“Through strategic partnerships, we aim to demonstrate that achieving both financial return and sustainable development in Asia is not only feasible but essential for our vision of progress and environmental stewardship,” said Howard Lee, Chief Executive Officer of the Exchange Fund Investment Office of the HKMA.
Shami Nissan, Partner and Head of Sustainability at Actis, emphasised Asia’s critical role in achieving a net-zero future, highlighting that with half of the world’s population, rapid industrialisation, carbon-intensive energy grids, and 50% of global emissions, the region is pivotal to global sustainability efforts.
Highlighting the urgency of addressing climate change in Asia, executives from ADB and IFC emphasised the partnership’s goal of building a strong foundation for impactful climate action and regional resilience.
Apollo, Mubadala extend multi-billion-dollar partnership
Apollo, the global alternative asset manager, and UAE sovereign investor Mubadala Investment Company have extended their multi-billion-dollar partnership, with an aim to capitalise on global origination opportunities, according to an announcement on Monday.
This renewed collaboration highlights their shared commitment to identifying and seizing investment prospects across key markets worldwide, according to the company statement.
The partnership was first established in 2022 and builds on several recent strategic collaborations between Apollo and Mubadala.
At its Investor Day in October, Apollo set a new target to reach $275 billion in annual origination volumes over the next five years. The firm believes it is uniquely positioned to meet the financing needs of large, high-quality corporate borrowers, while playing a pivotal role as a capital provider in areas such as the clean energy transition, power & utilities, and digital infrastructure.
The firms established a $2.5-billion joint venture to co-invest in global private credit opportunities, and earlier this year, Mubadala supported Apollo’s launch of its new middle market lending vehicle, Middle Market Apollo Institutional Private Lending.
Additionally, Apollo invested in Mubadala’s evergreen solutions strategy as part of the 2023 launch of its Mubadala Capital Solutions unit. And Mubadala played a key role in anchoring the formation of Apollo Strategic Origination Partners in 2020.
“Further enhancing our ability to originate investment opportunities that offer strong risk-adjusted returns is our top priority amid unprecedented demand for large-scale, customised capital solutions, and we believe the platform that the firm has created is particularly well positioned as a financing provider of choice to leading companies,” said co-president of Apollo Asset Management Jim Zelter.
“We continue to observe a secular shift in corporate financing toward private market execution and believe that this platform will continue to provide a scaled supply of attractive investment opportunities,” said Omar Eraiqaat, Deputy CEO of the Diversified Investments platform at Mubadala.
