AmInvestment Bank Group (AmInvestment) and Konzen Group (Konzen) have announced that their respective wholly-owned subsidiaries, Malaysian Ventures Management Incorporated Sdn Bhd (MVMI) and Konzen Capital Pte Ltd (Konzen Capital) have entered into a joint venture to establish a private equity fund management company in Singapore.
The 50/50 joint venture, to be called AmKonzen Water Investments Management Pte Ltd (AmKonzen), will manage a proposed $320 million (RM1 billion) special purpose vehicle called AmKonzen Asia Water Fund (the proposed AmKonzen AWF). The proposed AmKonzen AWF will be created to invest in a portfolio of water assets in the regions water sector, primarily in China including South East Asia.
AmKonzen, as the manager for the Proposed AmKonzen AWF, will seek to make long-term equity investments in water projects throughout Asia. Emphasis will be given to municipal water opportunities in Northern China. In Southern China, AmKonzens focus will be on industrial water treatment projects.