Hong
Kong-based First Eastern Investment Group has bought a minority holding in
Sustainable Development Capital LLP (SDCL), a UK-based merchant banking firm
for large scale sustainable development projects.
It will have a direct investment in SDCL and
establish a 50:50 joint venture to expand SDCL’s business in Asia.
The new joint venture, SDCL Asia, will be
based in Hong Kong and will leverage the regional expertise of First Eastern to
strengthen the services that SDCL provides to clients and accelerate the growth
of its investment business. Victor Chu, chairman and CEO of First Eastern, has
joined SDCL’s board.
For First Eastern, its investment in SDCL
represents a continuation of its strategy of investing in mid-sized British
companies with proven products and services and helping them to expand into
Asia’s fast growing markets, leveraging First Eastern's local knowledge and
expertise.
SDCL is headquartered in London with offices
in Hong Kong and New York. It has an established corporate finance and advisory
business specializing in sustainable infrastructure assets and services
including energy, water, waste, transport, healthcare and education. Its client
base includes public and private sector financial institutions, investment
funds, corporations and project developers in the environmental and social
infrastructure markets. SDCL is developing its investment business in Europe
and Asia, focussed on energy efficiency project development and finance.
Jonathan Maxwell, founding partner and CEO of
SDCL, said: “SDCL's core investment thesis
based on resource efficiency is more compelling than ever in a world of scarce
resources and uncertainty in global markets.
Efficiency and productivity gains are both a source of significant
competitive advantage and an answer to environmental challenges and resource
constraints. The growth markets of Asia offer exciting opportunities for
investors. SDCL’s business in Asia has been expanding rapidly, particularly
with regards to developing and financing energy efficiency projects, providing
advice to government and working with investors.”
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