SPARX Asset Management raises ¥31.6 billion

The Tokyo-based asset manager closes greenfield renewables fund.

Sparx Group’s latest renewables fund reached a final close of ¥31.6 billion ($282 million; €252 million) at the end of March. Launched in September 2018, the Mirai Renewable Energy Fund focuses on greenfield projects in Japan. It will invest in solar, wind, biomass, geothermal and hydraulic power projects.

Sparx is contributing ¥100 million of its own capital, with an additional ¥13.6 billion raised from Mizuho BankSumitomo Mitsui Banking Corporation and Chubu Electric.