CEL Infrastructure Investment Fund II, a private equity fund managed by China Everbright Ltd. (CEL), has added a $100 million commitment from the Asian Infrastructure Investment Bank (AIIB) and a co-investment sleeve of as much as $25 million.
This marks the first time funds managed by CEL have raised capital from a multilateral development bank.
With a target size of $600 million, Fund II will focus on green and low-carbon themes and will primarily invest in renewable energy, as well as new infrastructure and logistics projects in Southeast Asia and some other Asian countries. The vehicle is expected to hold its first closing this year.