Aloe Private Equity is planning to raise around $501 million for the Aloe Environment Fund III, Bloomberg reports. The Mauritius-based Asia-focused private equity firm aims to invest the money in companies developing environmental technologies.
The firm expects to close the first funding round for the fund in the third quarter of 2011. It also seeks to invest in 8-10 companies in fields, such as waste management, recycling, water and energy efficiency, that want to expand in Asia.
