Susi Partners, a Swiss investment manager focused on financing the energy transition, has realized its investment in Singapore-based renewable energy developer Alba Renewables, after the latter’s acquisition by global investment firm Brookfield Asset Management.

The transaction marks Susi’s first exit in Asia through the Susi Asia Energy Transition Fund ( SAETF ), which invests in energy transition infrastructure projects across Southeast Asia.

SAETF’s investment in Alba, announced in April 2024, was structured as a convertible loan focused on funding the construction of Alba’s first utility-scale renewable energy projects in the Philippines, as well as Alba’s project development activities in the region. With Brookfield’s acquisition of Alba, SAETF’s convertible loan has been repaid at undisclosed terms.

In a statement, Susi says the exit demonstrates its ability to deliver early returns while continuing to consolidate its portfolio and scale its key platforms. It also attests to “the attractive opportunities available to early movers in Southeast Asia’s energy transition, as global capital markets increasingly recognize the potential for both returns and impact in emerging Asian markets”, the investment firm adds.

Key platforms in SAETF’s current portfolio include Sara, a utility-scale renewable energy company established in cooperation with British International Investment and Dutch development bankFMO; Oasis, a commercial and industrial ( C&I ) solar PV platform created through the consolidation of several C&I solar PV investments; and Sustainable Energy Solutions Partners ( SESP ), a waste-to-energy biogas platform in Thailand. To date, the fund has invested in projects in Vietnam, the Philippines, Thailand, and Cambodia.