JunHe recently represented SIIC Capital (Hong Kong) Investment Management Company Limited (SIIC (HK)), the Hong Kong fund management and investment platform of Shanghai Industrial Investment (Holdings) Co., Ltd. (SIIC Group), and Azzurra Capital, a renowned European private equity firm, in the successful establishment and initial closing of Asia Environmental Technology Fund (AETF). JunHe also assisted both parties in forming a joint venture general partner to facilitate the coordinated management of AETF.
AETF is a Hong Kong limited partnership fund governed by Hong Kong law, and is jointly initiated and funded by SIIC (HK) and Azzurra Capital. As a key strategic initiative of SIIC Group in the green technology sector, AETF has a target size of USD 500 million. It aims to leverage Hong Kong as a base to connect with global markets, integrate high-quality capital from Asia, Europe, and the Middle East, and combine the professional investment expertise of international private equity with SIIC Group’s extensive industrial resources. AETF will focus on investing in high-growth potential green technology projects in Asia, and aims to be a benchmark platform for cross-border environmental technology investment. Its investment scope covers the renewable energy industry chain, energy conversion and storage technologies, digital and intelligent technologies enabling green and low-carbon development such as AI, the Internet of Things (IoT), and smart manufacturing. It also covers circular economy and resource regeneration, sustainable agriculture and future food systems, climate technology (including CCUS) and environmental monitoring solutions, as well as globally competitive green consumer goods and other sustainable lifestyle sectors.
SIIC Group and Azzurra Capital will leverage their unique strengths to build a partnership characterized by complementary advantages and mutual development. Since its establishment in Hong Kong in 1981, SIIC Group has focused on two core areas: life health and environmental health. It has accumulated profound knowledge and experience in industrial integration, project operation and local resource coordination. Azzurra Capital has assets under management of USD 900 million and possesses extensive cross-border fund management experience and a strong investment track record across Europe, the Middle East and other regions. It specializes in green technology and sustainable development.
The joint establishment of AETF is a significant response to the global call for low-carbon transformation and green development. It is also a concrete effort to deepen cross-border investment cooperation, support synergistic development between Shanghai and Hong Kong, and empower the high-quality growth of Asia’s environmental technology industry. It represents a strategic choice for both parties to achieve complementary advantages and mutual success.
As the Hong Kong legal counsel for AETF, JunHe demonstrated exceptional professional capabilities and service standards throughout the establishment and operation of AETF. From preparation and setup through to closing, JunHe provided comprehensive legal support and advisory services. JunHe team designed and optimized the fund structure and the co-general partner arrangement, negotiated and drafted the full set of legal documents, led the registration and filing processes, engaged in multiple rounds of investor negotiations, provided critical legal advice, and facilitated the successful launch and initial closing of AETF. Leveraging their extensive experience accumulated from similar projects, along with their rigorous, efficient and meticulous work style and dedicated service attitude, JunHe team earned high recognition and praise from the client. This project marks another significant achievement for JunHe in the Hong Kong private equity fund market, further showcasing the firm’s comprehensive strengths and sustained dedication in cross-border fund formation and asset management. It also highlights JunHe’s exceptional performance in facilitating Shanghai-Hong Kong cross-border collaboration and managing complex multi-jurisdictional projects.
Leading this project were JunHe’s Hong Kong partners DE, Lihua (Theresa) and WANG, Weiwei. The executing partner was WANG, Weiwei.
