Asian Hedge Fund launching renewable fund for Japan

Yamagawa geothermal power plant, Japan
Alexander Richter 3 Apr 2012

One of Asia's largest hedge funds, Sparx Group Co. is launching a renewable energy fund to invest $10-100 million in projects in Japan, with an initial focus on wind and solar, but eventually on geothermal projects as well.

Reported this morning, one of the largest hedge funds in Asia, Sparx Group intends to launch a renewable energy fund focused on Japan.

With Japan looking at fundamental changes to its energy market following last year’s Tsunami and nuclear catastrophe at Fukushima. The country aims to move away from nuclear power and rely more on renewable energy sources.

The fund now planned by Sparx will have a total of around $10 to $100 million to invest, so Wall Street Journal, with an initial focus on wind and solar but with geothermal energy projects being potentially added to the scope of the fund.

Sparx Group is a hedge fund player with a focus on Asian equity with about $6.7 billion under management. The company is based out of Tokyo Japan.

Source: Wall Street Journal