UK-based specialist asset manager Gresham House, which focuses on sustainable infrastructure and alternative investments, has completed the acquisition of Swiss infrastructure fund manager Susi Partners ( Susi ), forming a US$3.4 billion energy transition platform with ambitions that extend into Asia, where Susi has already made a number of investments.

This acquisition marks a significant scale-up for Gresham House’s private markets business and signals the firm’s intention to deepen its foothold in global decarbonization finance.

With Susi’s track record in clean infrastructure, especially across distributed energy, storage and energy efficiency, the combined platform, the fund manager notes, is now positioned as a key capital allocator to support the net-zero transition globally.

Asia is expected to figure prominently in that strategy. Before the deal, Susi had built a portfolio in Southeast Asia through the Susi Asia Energy Transition Fund.

Susi exited its first investment in the region in 2023, a milestone that, it states, validated its long-term view on the continent’s renewable energy prospects. This involved a commercial-scale solar photovoltaic project in Vietnam that was completed in 2019, representing a successful proof-of-concept for clean energy deployment in an emerging economy with rising power demand and grid challenges.

Susi also realized its investment in Singapore-based renewable energy developer Alba Renewables last year after Alba was acquired by Brookfield Asset Management.

The new combined entity, Gresham House Susi, will continue to operate from Zurich, but will benefit from Gresham House’s global distribution reach and environmental, social and governance ( ESG )-integrated investment process.

For Asia, this could mean increased capital flowing towards distributed generation, microgrids and battery storage, crucial enablers in countries with ageing grids or remote communities.

Southeast Asia’s mix of demographics, industrial growth and climate vulnerability makes it a natural focal point for energy transition investors. Susi had earlier expressed interest in large-scale solar projects in Indonesia, the Philippines and Vietnam, recognizing not only the climate imperative but also the commercial viability of long-duration power purchase agreements and the improving regulatory frameworks in the region.

The deal also reflects a growing alignment between European capital and Asian infrastructure needs, and underscores a trend where infrastructure investors are no longer satisfied with mature Western markets, searching instead for the growth and impact Asian markets offer.

As of 2023, Gresham House managed over US$10.7 billion in assets and has carved out a niche in long-term, real asset strategies that align with ESG themes.