Robeco TEDA and Agricultural Bank of China announce cooperation in the field of Private Equity Investments
On September 9, 2009, Robeco TEDA (Tianjin) Equity Investment Management Company Limited (“Robeco TEDA”), a leading investment manager in the area of sustainable private equity, and Agricultural Bank of China (“ABC”), one of the largest commercial banks in the People’s Republic of China, have signed a cooperation agreement in the field of private equity investing.
First, ABC will be the custodian and the financial administrator of the upcoming Robeco TEDA Sustainable Private Equity Fund. Currently under development and to be launched soon, the Robeco TEDA Sustainable Private Equity Fund is set to be 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. The proposed fund will target government funds, pension funds, corporate investors and selected high net worth clients in China.
ABC will give a select number of qualified institutional investors the opportunity to invest in the proposed fund. Further, potential investors will be given the opportunity to receive funding and support services from ABC.
Tang Yanqing Chairman of the Board of Robeco TEDA: “We are proud to announce the cooperation with ABC. ABC is a respected player in China, and we are confident that together we can grow our business and achieve success. The signing of today’s MOU between the Dutch and Chinese governments further show the potential of cooperation in the fields of renewable energy and clean tech in general”.