FAST-P and the Role of Institutional Capital: Insights from the South East Asia Investor Showcase

On 17 February 2026, ASFI was pleased to convene the first South East Asia Investor Showcase of 2026 with the Australian Department of Foreign Affairs and Trade, bringing institutional investors together to explore opportunities under Singapore’s Financing Asia’s Transition Partnership (FAST-P).

What is FAST-P?

Singapore’s Financing Asia’s Transition Partnership (FAST-P) was launched by the Monetary Authority of Singapore (MAS) in 2023 to help mobilise large-scale capital for Asia’s climate transition.

FAST-P brings together public, private, and philanthropic capital through blended and tiered financing structures designed to address the region’s significant climate finance gap.

Combining concessional and commercial capital, FAST-P improves risk-return profiles and crowds in institutional investment at scale. It seeks to:

• Reduce or absorb specific investment risks;

• Improve bankability of marginally viable projects; and

• Enable institutional investors to participate at scale.

The session highlighted two flagship blended finance funds supported under the FAST-P initiative.

1. The Green Investments Partnership (GIP)
   
   Managed by Pentagreen Capital (the sustainable infrastructure debt financing platform established by HSBC and Temasek), GIP will deploy debt financing into green and sustainable infrastructure projects across Southeast and South Asia. It achieved first close in September 2025, with US$510 million in committed capital.

   The fund brings together a broad coalition of global and regional investors across the public, private, and philanthropic sectors including the Australian Government through Export Finance Australia, the International Finance Corporation, FMO, HSBC, Temasek, British International Investment, Bank of the Philippine Islands and Allied Climate Partners. The European Commission is also supporting GIP through its Global Gateway programme.

   Read more about the fund here.
   

2. Southeast Asia Industrial Transformation Partnership (ITP)
   
   Designed to mobilise institutional capital into large scale decarbonisation opportunities across Asia, the ITP has a primary focus on Southeast Asia. The fund invests in infrastructure credit opportunities across eligible Asian markets, with exposure to low carbon industrial transformation, hard to abate sectors and emerging technologies. It is managed by BlackRock through its infrastructure credit platform within Global Infrastructure Partners.

   The platform manages approximately US$30 billion in infrastructure credit assets, has more than two decades of experience, and maintains a zero-loss track record to date. It operates globally, with origination capability across London, New York, Hong Kong and Bogotá, and strengthened its regional presence with the appointment of a Managing Director in Singapore to support Asian deployment.

   Read more about the fund here.

Takeaways

Several broader themes emerged over the course of discussions, which illuminated the scale of the opportunity for regional investment in decarbonization:

• ASEAN’s energy transition is expected to require approximately US$1.3 trillion by 2035;

• Around half of that capital is currently considered commercially bankable, with the balance likely to require catalytic or blended structures to attract private investment;

• Southeast Asia continues to be seen as a strategic growth and diversification opportunity for global institutional investors;

• Infrastructure credit is increasingly being positioned as a key financing channel for decarbonisation, particularly across industrial and hard-to-abate sectors;

• Blended finance practice is maturing, with global asset managers now partnering with sovereign partners to structure funds for institutional investor appetites; and

• While Australian investors may be less familiar with blended finance as an asset class, it offers a way to access fast growing emerging markets and achieve climate and sustainability goals.

You can access more insights from ASFI on considerations for Australia’s financial system deploying blended finance in Southeast Asia here, and Australian financial institutions’ views on climate and clean energy opportunities in Southeast Asia here.