ib vogt’s SEA sale draws multiple infrastructure funds
- CIP, I Squared among interested parties
- Non-binding offers due 28 August
ib vogt’s Southeast Asian assets sale has attracted the attention of multiple infrastructure fund managers, according to three sources familiar with the matter.
Danish manager Copenhagen Infrastructure Partners (CIP) and Miami-based I Squared Capital have expressed initial interest, said two of the sources.
New York-headquartered Stonepeak is also circling the deal, one of the sources said, while another said Swedish investor EQT is in the fray.
Actis, advised by ING, and Brookfield have also been engaged in the sale process, as reported.
Indicative bids are due at the end of August, all three sources and a fourth source familiar said, with one of them adding that the deadline is 28 August.
Non-disclosure agreements were signed in mid-July following a teaser distribution, said one of the sources.
UBS is running the process.
CVC DIF-backed ib vogt’s largest Southeast Asian market is Malaysia with 116 MWp, its website shows. In the Philippines, ib vogt operates three ground-mounted solar farms totalling 22.5 MWp. It has 21.75 MWp in Indonesia and 5 MW in Thailand.
The developer’s pipeline includes a 1 GW solar platform spanning Indonesia, Vietnam, Malaysia, Laos, and Bangladesh, alongside the Philippines’ ACEN. In Indonesia, ib vogt is planning a 220 MW solar park and a 3.5 GW solar plus battery project, with the latter targeting power exports to Singapore.
CIP, EQT, I Squared, and Stonepeak declined to comment. ib vogt did not respond to a request for comment.