Abu Dhabi sovereign wealth fund, Mubadala, is poised to acquire a major stake in a sustainable fund run by Asper Investment Management.
London-based Asper specialises in the sustainable real assets sector with a particular focus on energy transition.
Its Dorothea fund will invest more than US$570 million in the development of heating services across the Netherlands.
Other investors in the fund include the European Investment Bank and Dutch pension fund APG.
Mubadala has made other recent investments in renewable energy, including $150 million on US-based Enviva, a producer of industrial wood pellets
“[The Dorothea] investment is highly attractive for us, as heating networks not only support the development of sustainable energy infrastructure, but are also stable assets which provide predictable cash flows and steady returns," said Khaled Abdulla Al Qubaisi, chief executive of Mubadala aerospace, renewables and ICT.
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