Asia Climate Partners

Asia Climate Partners was co-founded in 2014 by Managing Partner Paul Yeung. The firm is a joint venture among the Asian Development Bank, ORIX Corporation, and Robeco Institutional Asset Management. Rather than a general partner raising a blind pool from external limited partners, the firm was established with direct capital commitments from its three founding institutions, blending multilateral development finance, Asian corporate strategic capital, and European institutional asset management.

The firm targets growth equity and buyout transactions across mid-market environmental companies in Asia. Typical equity checks range from $20 million to $75 million per deal. The firm invests where commercial growth is directly tied to resource efficiency — companies that reduce energy, water, or material inputs while scaling revenue.

It operates as a private equity firm with institutional return expectations, despite its multilateral development bank lineage. The firm makes equity investments, takes board seats, and follows a typical closed-end fund timeline. It maintains an environmental and social management system for portfolio compliance, which is more rigorous than a standard PE firm but falls short of concessional DFI lending.

The firm focuses on China, India, and Southeast Asia, where urbanization, rising energy demand, and tightening environmental regulations create the strongest investment pipeline for resource-efficiency companies. Its parent institutions' networks provide origination advantages across more than 20 Asian markets.

The firm's fund structure is a joint venture rather than a traditional commingled fund, so external LP co-investment is not standard. The three founding institutions serve as the primary capital sources. If the firm later opens additional vehicles to third-party institutional investors, that structure could evolve.