Robeco and TEDA International Holding Corporation announce Investment Management Joint Venture
On March 23, Robeco and TEDA International (Holding) Corporation Limited (“TEDA International", a strong partner with intimate knowledge of the Chinese Market and based in the heart of Tianjin Municipality, announced the establishment of Robeco TEDA (Tianjin) Investment Management Company and the upcoming launch of their first joint product, the Robeco TEDA Sustainable Private Equity Fund.
China has in recent years embarked on a policy of balanced and sustainable growth. It has clearly indicated that economic growth fuelled with ever increasing energy consumption and pollution is not acceptable and it has set ambitious goals related to use of energy and water, pollution and treatment of waste. Tianjin City, in the economic heart of Northern China, has been designated by the Chinese Central Government as a reform testing area Following this decision to support Tianjin Binhai New Area to become a leading national economic center, the area has seen enormous growth and financial innovation. Tianjin has become the national center for private equity and there are now more than 100 private equity and venture capital funds registered in Tianjin.
Robeco and its subsidiary, Sustainable Asset Management (SAM), form a strategic alliance to set up the leading platform for sustainability investments. SAM, founded in 1995, is an asset management company exclusively focused on sustainability investments, including Sustainable Private Equity. SAM also partners with Dow Jones to develop the globally recognized Dow Jones Sustainability Indexes (DJSI).
TEDA International, a newly established company under Tianjin Investment Holding, is mandated to hold all the financial assets under the Tianjin Government and is responsible for the development of all financial service related areas under Tianjin Government. TEDA International, the financial holding arm of Tianjin government, is developing into the national leader in sustainability as well as a national centre for private equity investing by fully leveraging its position in Tianjin, an ambition which is fully endorsed by Chinese Government.
The Joint Venture Company will function as a platform for joint business development in China, focused on Tianjin. The first product, currently under development and to be launched soon is, the Robeco TEDA Sustainable Private Equity Fund. The fund is the first Renminbi denominated cross-border private equity fund with a focus on sustainable investments .The Fund will be domiciled in Tianjin Binhai New Area. The fund will invest in companies which develop products and technologies that (i) increase productive use of energy, water and other resources; (ii) reduce the impact on the environment (waste and emissions); (iii) create economic value through lower costs with a focus on Chinese companies.
George Möller, CEO of Robeco Group, says: “We are very excited to partner with TEDA International to develop business in China. This first initiative by the JV, the Robeco TEDA Sustainable Private Equity Fund, invests not only in global leaders in sustainability, but also in local Chinese companies which a focus on China sustainability. The success of the Fund relies on the unique positioning and capabilities of TEDA International and Robeco’s proven investment capabilities in sustainable private equity. Through the Fund, Robeco and TEDA can share knowledge and experience to bring the best investment return to investors. This is a great milestone for Robeco, after setting up our Shanghai Representative Office in late 2007 and receiving a QFII license and USD 15O million quota in 2OO8.”