Temasek Trust Asset Management $900 Million Regional Private Equity Fund ABC Impact Partners with Singapore Banks DBS & UOB on $110 Million Sustainability-Linked Subscription Loan Facility for $600 Million ABC Impact Fund II
13th October | Hong Kong
Temasek Trust Asset Management regional private equity fund ABC Impact ($900 million AUM) has formed a partnership with Singapore banks DBS & UOB on a $110 million sustainability-linked subscription loan facility for the $600 million ABC Impact Fund II. Announcement (13/10/25): “ABC Impact, an impact investing firm backed by Temasek and a member of Temasek Trust Asset Management[1], has partnered with DBS and UOB on a sustainability-linked subscription loan facility. The USD 110 million (SGD 142 million)[2] sustainability-linked subscription loan facility, jointly established by DBS and UOB, transforms an existing conventional loan facility into an innovative instrument that links financing to measurable impact targets. Previously, ABC Impact had a conventional subscription loan facility, which is typically a short-term facility that allows private equity and impact funds to bridge the gap between investments made and the receipt of capital called from investors. With the sustainability-linked loan facility – which is linked to sustainability performance targets – ABC Impact and the two banks will channel capital flows towards projects with meaningful outcomes while embedding a focus on measurable impact and disclosure into the financing structure itself. The loan facility is for ABC Impact Fund II, which was incepted in August 2023 and held its final close in March 2025. Assets under management (AUM) of the fund currently exceed USD 600 million (SGD 712 million) – double the size of its inaugural Fund I – with commitments from investors including Temasek, Temasek Trust, the Asian Development Bank, Mapletree Investments, SeaTown Holdings, a Southeast Asian sovereign wealth fund and ultra-high-net-worth individuals. Under the terms of the sustainability-linked loan facility, ABC Impact Fund II’s portfolio companies will be required to achieve sustainability performance targets related to avoided or reduced greenhouse gas emissions, as well as number of beneficiaries reached across key impact sectors such as agriculture, healthcare, education and financial services. ABC Impact has tracked key impact indicators across its portfolio since inception, providing a data-driven foundation for measuring and reporting the outcomes achieved by its investments. The conversion of this loan facility into a sustainability-linked loan facility creates additional incentives to raise the bar on performance and further aligns financing with the fund’s mission to address pressing environmental and social challenges in Asia and reframe them into growth and development opportunities.With this facility, ABC Impact, DBS and UOB are establishing a new benchmark for the financial sector in integrating sustainability considerations into conventional fund financing. In 2025 April, ABC Impact Fund II raised more than $600 million from investors including Temasek, Temasek Trust, Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, 1 United States family office & UHNWIs (Ultra high net worth individuals). Earlier in 2025 April, Asian Development Bank (ADB) announced to invest $20 million in ABC Impact Fund II LP, which provides growth capital for businesses driving sustainable development in APAC with focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam. The ABC Impact Fund II LP has 4 development goals: 1) Better healthcare & education, 2) Financial & digital inclusion, 3) Sustainable food & agriculture, 4) Climate & water solutions.
“ Temasek Trust Asset Management $900 Million Regional Private Equity Fund ABC Impact Partners with Singapore Banks DBS & UOB on $110 Million Sustainability-Linked Subscription Loan Facility for $600 Million ABC Impact Fund II “
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Sugandhi Matta, Chief Impact Officer, ABC Impact: “This sustainability-linked loan marks an important milestone in ABC Impact’s journey. With our investors’ capital already fully dedicated to impact, and now our financing linked to measurable sustainability outcomes, every dollar we manage is aligned with our mission. By embedding performance targets into mainstream financing structures, we are reinforcing our commitment to deliver both financial discipline and positive social and environmental outcomes across Asia.”
Simon Ong, Group Head of Financial Institutions and Government-Linked Corporations, DBS: “This partnership demonstrates financial innovation in action – taking a traditional product and reimagining it to better serve the ecosystem. By working with ABC Impact, we are helping to unlock capital for businesses that generate both financial and social returns. This is an example of how banks can act as enablers of sustainable and impactful development, steering capital towards solutions that improve lives and livelihoods.”
Edmund Leong, Head of Group Corporate Banking, UOB: “UOB is steadfast in our commitment to developing innovative financing solutions that enable our clients to drive meaningful and measurable impact. By structuring the financing to clearly defined sustainability outcomes, this facility represents a new standard in harnessing capital for both commercial success and societal progress. Our collaboration with ABC Impact underscores the critical role of strategic partnerships in tackling pressing environmental and social challenges across the region.”
ABC Impact – ABC Impact is a Pan-Asia impact investment firm dedicated to delivering measurable social and environmental outcomes alongside risk-adjusted financial returns through sustainable growth. With over USD 900 million in assets under management, the firm follows a disciplined, thematic strategy to invest in high-potential businesses addressing Asia’s most pressing challenges. Its portfolio spans climate and water solutions, sustainable food and agriculture, healthcare and education, and financial and digital inclusion. ABC Impact is a member of Temasek Trust Asset Management and is backed by Temasek Trust, Temasek, the Asian Development Bank, and other leading institutional investors. As a signatory to the Principles for Responsible Investment and the Operating Principles for Impact Management, ABC Impact applies a rigorous, evidence-based impact measurement and management framework to ensure effectiveness and accountability. It is committed to mobilizing private capital for a more sustainable and inclusive Asia.
DBS – DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
UOB – UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN. The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
Temasek Trust Asset Management Regional Private Equity Fund ABC Impact Fund II Raised $600 Million from Investors Including Temasek, Temasek Trust, Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, 1 United States Family Office & UHNWIs, ABC Impact Fund II Provides Growth Capital for Businesses Driving Sustainable Development in APAC with Focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam
17th April 2025 – Temasek Trust Asset Management regional private equity fund ABC Impact Fund II has raised more than $600 million from investors including Temasek, Temasek Trust, Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, 1 United States family office & UHNWIs (Ultra high net worth individuals). Earlier in 2025 April, Asian Development Bank (ADB) has announced to invest $20 million in ABC Impact Fund II LP, which provides growth capital for businesses driving sustainable development in APAC with focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam. The ABC Impact Fund II LP has 4 development goals: 1) Better healthcare & education, 2) Financial & digital inclusion, 3) Sustainable food & agriculture, 4) Climate & water solutions. Announcement (14/4/25): “ABC Impact, the Asia-focused impact investment firm, has successfully completed the final closing of its second fund at over USD 600 million, doubling the size of Fund I. This milestone deepens the firm’s commitment to addressing Asia’s critical social and environmental needs through impact-driven investments. ABC Impact Fund II has drawn support from a diverse group of Limited Partners, including Temasek; Temasek Trust; the Asian Development Bank (ADB); Mapletree Investments; SeaTown Holdings; a Southeast Asia sovereign wealth fund; a U.S. family office; and ultra-high-net-worth individuals. This convergence of development finance and private capital reflects a growing recognition that impact investing can address systemic issues through market-based approaches … … Closing amid increasing climate shocks, inequality, and economic uncertainty, ABC Impact Fund II focuses on practical solutions in areas where traditional models have struggled to deliver results. Its investment strategy centers on four priority sectors: clean energy and climate resilience, inclusive finance and digital access, healthcare and education, and sustainable food systems. Investments to date include Aye Finance in India, which provides loans to micro and small enterprises; Tekoma Energy in Japan, a renewable energy developer specializing in solar projects; and DCDC Kidney Care, one of India’s largest dialysis networks delivering affordable treatment to underserved patients. Asia’s economic and demographic momentum continues to create opportunities for innovation in impact. But the region’s complexity requires an investment approach that is both grounded and adaptive … … Fund II builds on the momentum of Fund I (2019–2024), enabling ABC Impact to expand its partnerships, extend its reach across high-impact sectors, and back commercially viable solutions with the potential for long-term impact. Impact investing is increasingly seen not as a trade-off, but as a strategic advantage. ABC Impact’s approach is rooted in the belief that financial strength and societal benefit can—and should—advance together.”
Benoit Valentin, Head, Impact Investing, Temasek: “In a rapidly changing world, we are facing increasingly complex and far-reaching social and environmental challenges. Our partnership with ABC Impact is a core pillar of Temasek’s impact investing strategy, reflecting our belief that impact investing can scale capital to address the pressing issues we are facing. By working together, we can create a more inclusive and sustainable world where every generation prospers.”
Jackie Surtani, ADB’s Regional Director and Head of the Singapore Office: “The impact investment landscape in the region remains nascent, with a significant funding gap for growth-stage companies. ADB’s investment in ABC Impact Fund II reflects our commitment to catalysing impact capital across Asia and the Pacific. By supporting innovative businesses that tackle pressing social and environmental challenges, we aim to improve lives and livelihoods throughout the region.”
Tow Heng Tan, Chairman, ABC Impact: “The successful closing of Fund II underscores the trust that leading institutional investors have placed in ABC Impact’s disciplined investment strategy. By welcoming external capital from the likes of Asian Development Bank, we are deepening our commitment to shaping a more sustainable and inclusive future in Asia.”
David Heng, CEO of ABC Impact: ”We believe capital, when directed with intent, can help shape pragmatic, market-led responses to the most urgent challenges facing our region. From climate resilience to inclusive finance and healthcare access, investing in these areas is both a societal imperative and a long-term business opportunity.”
ABC Impact – ABC Impact is a Pan-Asia impact investment firm dedicated to delivering measurable social and environmental outcomes alongside risk-adjusted financial returns through sustainable growth. With over USD 900 million in assets under management, the firm follows a disciplined, thematic strategy to invest in high-potential businesses addressing Asia’s most pressing challenges. Its portfolio spans climate and water solutions, sustainable food and agriculture, healthcare and education, and financial and digital inclusion. ABC Impact is a member of Temasek Trust Asset Management and is backed by Temasek Trust, Temasek, the Asian Development Bank, and other leading institutional investors. As a signatory to the Principles for Responsible Investment and the Operating Principles for Impact Management, ABC Impact applies a rigorous, evidence-based impact measurement and management framework to ensure effectiveness and accountability. It is committed to mobilizing private capital for a more sustainable and inclusive Asia.
Asian Development Bank (ADB) to Invest $20 Million in $600 Million Temasek Trust Asset Management Regional Private Equity Fund ABC Impact Fund II LP Which Provides Growth Capital for Businesses Driving Sustainable Development in APAC with Focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam, Fund Has 4 Development Goals: 1) Better Healthcare & Education, 2) Financial & Digital Inclusion, 3) Sustainable Food & Agriculture, 4) Climate & Water Solutions
14th April 2025 – Asian Development Bank (ADB) has announced to invest $20 million in Temasek Trust Asset Management ($600 million capitalization) regional private equity fund ABC Impact Fund II LP, which provides growth capital for businesses driving sustainable development in APAC with focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam. The ABC Impact Fund II LP has 4 development goals: 1) Better healthcare & education, 2) Financial & digital inclusion, 3) Sustainable food & agriculture, 4) Climate & water solutions. Announcement (14/4/25): “The Asian Development Bank (ADB) signed an equity investment of up to $20 million with ABC Impact Fund II LP (ABC Impact II), a regional private equity fund managed by Temasek Trust Asset Management Pte. Ltd. (TTAM). ABC Impact II will focus on four core development goals: better health care and education, financial and digital inclusion, sustainable food and agriculture, and climate and water solutions. The investment will provide growth capital for businesses that drive sustainable development in Asia and the Pacific, with a particular focus on the People’s Republic of China, India, Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. ABC Impact is signatory to the Operating Principles for Impact Management, a global standard for managing impact investments that has been endorsed by nearly 200 organizations in 40 countries. The fund targets mid-market companies with the potential for significant social and environmental impact. By providing long-term equity financing and capacity building support, ABC Impact II will help these companies scale and attract additional investment. The adherence to ABC’s impact investment principles is independently verified by Bluemark, a global leader in impact verification services. Established in Singapore, ABC Impact is a private equity impact fund managed by TTAM. The fund aims to provide growth capital to innovative business models that advance sustainable development efforts in Asia and the Pacific. With a capitalization of over $600 million, ABC Impact seeks to drive positive social and environmental change while delivering solid financial returns. ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.”
Regional Director & Head of ADB’s Singapore Office Jackie Surtani: “The impact investment landscape in the region remains nascent, with a significant funding gap for growth-stage companies. ADB’s investment in ABC Impact Fund II reflects our commitment to catalyzing impact capital across Asia and the Pacific. By supporting innovative businesses that tackle pressing social and environmental challenges, we aim to improve lives and livelihoods throughout the region.”
Asian Development Bank (ADB) to Invest $20 Million in $600 Million Temasek Trust Asset Management Regional Private Equity Fund ABC Impact Fund II LP Which Provides Growth Capital for Businesses Driving Sustainable Development in APAC with Focus on China, India, Indonesia, Malaysia, Philippines, Thailand & Vietnam, Fund Has 4 Development Goals: 1) Better Healthcare & Education, 2) Financial & Digital Inclusion, 3) Sustainable Food & Agriculture, 4) Climate & Water Solutions
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