Dutch asset manager Robeco aims to raise 4bn Yuan ($585m) in China for a private equity fund that will focus on sustainable investments it has been reported.

The fund will be managed by a joint venture between Robeco and the Tianjin government. The joint venture, Robeco TEDA (Tianjin) Investment Management Company, hopes to launch its first product, the Robeco TEDA Sustainable Private Equity Fund, by the first quarter of 2010.

According to reports, the fund will invest in companies that develop products and technologies that increase productive use of energy, water and other resources; reduce the impact waste and emissions on the environment; and create economic value by cutting costs.

In addition to China, the fund will invest in companies in the US, Europe and elsewhere.
The private equity venture was established in March, marking a milestone for Robeco’s development in China after it set up a representative office in Shanghai in 2007.

Robeco, a unit of unlisted cooperative bank Rabobank, had €111bn in assets under management as of December 31.
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