Sustainable infrastructure financing platform Pentagreen Capital announced today the second close of the Green Investments Partnership (GIP), with committed capital to the blended finance program reaching $800 million to back green and sustainable infrastructure opportunities across Southeast and South Asia.
GIP forms part of Singapore’s Financing Asia’s Transition Partnership (FAST-P), a blended finance initiative launched the Monetary Authority of Singapore (MAS) in 2023 to bring together public, private and philanthropic capital to help finance Asia’s green transition. GIP, and other FAST-P partnerships, were launched to address the region’s pressing climate finance gap through the use of innovative blended and tiered capital structures to crowd in capital at scale.
The fund deploys debt financing for climate-related, marginally bankable sustainable infrastructure in Southeast and South Asia. Key areas of investment include renewable energy and storage, electric vehicle infrastructure, sustainable transport, water and waste management and other energy transition-related sectors.
Blended finance brings together public or philanthropic capital and private funding through a common investment structure, enabling investors to invest in certain types of investments that have high perceived risk profiles, such as new climate mitigation-related technologies.
The latest close follows GIP’s first close in September 2025, which raised $510 million.
GIP is managed by Pentagreen Capital, a debt financing platform focused on accelerating the development of sustainable infrastructure in Asia, launched in 2022 by HSBC and Temasek.
Marat Zapparov, Chief Executive Officer of Pentagreen Capital said:
“The second close of the Green Investments Partnership reflects the strong momentum it has achieved since launch. The growing number of partners demonstrates increasingly widespread recognition of the critical importance of blended finance to mobilising the funding required for Asia’s energy transition, to deliver stronger economic resilience and common prosperity in the region.”
New investors and financiers committing to the fund at the second close include the Development Bank of Singapore (DBS) and Cathay United Bank, which both entered into senior tranche lending arrangements with GIP, alongside a new industry partner participating in the junior portion of the program and several existing partners which increased their participation.
Kelvin Wong, Chief Sustainability Officer at DBS said:
“Transition projects have historically struggled to attract commercial financing at scale because of perceived risks associated with such undertakings. The FAST-P initiative is a prime example of public-private partnerships to crowd in capital that Asia’s transition urgently needs.”
