MAI Acts as Placement Agent for one of the largest Solar Funds in Japan Formed by GE Group
Jun. 29, 2017
Mitsui & Co. Alternative Investments Limited (“MAI,” President & CEO: Akira Kamosaki) participated in one of the largest solar energy funds project in Japan structured by GE Energy Financial Services (“GE Group”: a group company of General Electric) as a placement agent for soliciting institutional investors.
The fund targets to raise 75 billion yen including commitments from GE Group and Development Bank of Japan, Inc., an anchor investor. Four additional investors have committed to make investments as limited partners: Nippon Life Insurance Company, JA Mitsui Leasing, Ltd., NEC Capital Solutions Limited and Daido Life Insurance Company. As the fund has reached its first closing, it will start investing in existing solar projects such as Kumenan asset, which has been in operation since 2016 with 32-megawatt output.
MAI has previously launched and distributed two renewable energy investment funds, one in January 2016 and the other in March 2017. These activities helped the firm build experience in the renewable energy sector, which was fully utilized in this solar fund with GE Group.
MAI will continue to pursue to best serving its clients by meeting their needs and constantly providing the highest quality products that can add value in a timely manner, with a focus on alternative investment opportunities around the world.