AGP Sustainable Real Assets

What AGP Sustainable Real Assets does

AGP Sustainable Real Assets is a Singapore-based private investor and asset manager founded in 2019 that develops and operates sustainable real assets across three core verticals: energy, digital infrastructure, and real estate. The group is led by Founding Partner & CEO Ben Salmon and operates through 13 platforms across 8 countries, including AMPYR (clean energy: utility-scale solar, wind, and grid-scale BESS in Australia, UK, Europe, USA, and India), Zerra DC (hyperscale data center development in Australia, Japan, and India), and a real estate cluster comprising Assetz (India's largest foreign-owned residential developer), Freedom Lifestyle Villages (New Zealand retirement living), Veres (Australian logistics), and AGP Industrial Logistics Parks. As at 30 September 2025, AGP reported US$10B+ in secured developments, 11.6 GW of renewable energy capacity secured, 920 MW of data center capacity secured, and a 30-year founder track record that has delivered over 30 million sq ft of built assets, 2.1 GW+ of energy projects, and US$2 billion+ of capital returned to investors through five platform exits, including the sale of Assetz's office park business to Blackstone's Embassy Group.

Revenue is generated through four interlocking streams: investment management and fund management fees across AGP Capital Holdings, AGP Capital Management, and the AGP Sustainable Real Assets Holdings VCC (managed by Lucerne Asset Management under Singapore CMS and Australian AFSL No. 525069, servicing wholesale institutional clients only); renewable energy development and operations via power generation, capacity contracts, and PPAs (including AMPYR Distributed Energy's no-upfront-cost C&I onsite solar model); digital infrastructure revenue from co-location, hosting, and long-term hyperscaler capacity contracts at Zerra DC and the NIIF/Digital Edge India JV; and real estate development economics through Assetz residential sales, Veres and AGPIL logistics warehousing, and Freedom Lifestyle Villages retirement stock. The go-to-market is confidential and selective — no retail offering — targeting institutional investors and capital partners through direct relationships, with Stonepeak having committed up to US$1 billion as a strategic anchor investor in November 2023 and capital partners including Franklin Templeton, Crédit Agricole CIB, and Tata Capital providing project-level debt.

Operationally, AGP combines founder ownership with a "platform incubation" model in which each vertical has a dedicated CEO (Alex Wonhas at AMPYR Australia, John Behan at AMPYR Distributed Energy UK, David Cooper at Zerra DC, Akshay Dewani at Assetz) and joint-venture co-investors (Hartree Partners in the US and Europe, Climate Fund Managers in India, NIIF and Digital Edge in India digital infrastructure). Recent strategic actions — the November 2025 acquisition of Shawton Energy, the December 2025 £50 million Franklin Templeton mezzanine facility, the April 2026 Rs 1,200 crore Tata Capital loan for a second Navi Mumbai data center, and the November 2025 15-year InCommodities Bulabul BESS offtake worth $300M+ — indicate a company actively scaling capital deployment across all three verticals.

Name

AGP Sustainable Real Assets

Legal name

AGP Capital Holdings Pte. Ltd.

Website

https://agpgroup.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Short description

AGP Sustainable Real Assets is a Singapore-based private investor and asset manager that develops and operates sustainable real assets across energy (solar, wind, BESS), digital infrastructure (hyperscale data centers), and real estate (residential, logistics) through 13 platforms in 8 countries, serving institutional capital partners and wholesale clients.

Ownership category

akta.pro rank

Product category

Infrastructure Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Management of Companies and Enterprises (55111), Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

akta.pro secondary industries

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Capital Planning, Portfolio & Lifecycle Asset Management (EAM/CMMS) (EUAEAMAL), Sustainable Real Assets (Green Real Estate, Land, Forestry) Funds (FSANAJAD)

Keywords

• Sustainable real assets
• Renewable energy development
• Battery energy storage
• Hyperscale data centers
• Institutional asset management

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Investment Management & Fund Management: AGP operates as an independent global investor and asset manager owning, developing and operating sustainable real assets. Generates fees through fund management, technical advisory, and investment sponsorship across energy, digital, and real estate platforms.
2. Renewable Energy Development & Operations: Develops and operates renewable energy projects including solar, wind, and battery storage. Revenue from power generation, capacity contracts, and power purchase agreements (PPAs). Includes C&I onsite renewables through AMPYR Distributed Energy.
3. Real Estate Development & Asset Management: Develops living (residential) and logistics (warehousing) real estate across Asia Pacific through specialized platforms including Assetz, Freedom Lifestyle Villages, Veres, and AGP Industrial Logistics Parks.
4. Digital Infrastructure Development: Develops hyperscale data centers through Zerra DC and partnerships with Digital Edge. Revenue from co-location, hosting services, and long-term capacity contracts with hyperscalers and cloud providers.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

AGP Sustainable Real Assets is a Singapore-based institutional investor and asset manager that develops, owns and operates sustainable real assets across three pillars: renewable energy (utility-scale solar, wind and grid-scale battery storage via the AMPYR platform), digital infrastructure (hyperscale data centers via Zerra DC), and real estate (residential, logistics warehousing and retirement living via Assetz, Veres, Freedom Lifestyle Villages and AGP Industrial Logistics Parks). The firm deploys capital from wholesale institutional investors through managed funds, develops projects from land acquisition through to operations, and earns revenue via fund management fees, advisory fees, power generation and capacity contracts.

Product overview

AGP Sustainable Real Assets is a global investor and asset manager that develops and operates sustainable real assets across three core strategies: Energy, Digital Infrastructure (Data Centres), and Real Estate. The company operates through multiple platform subsidiaries and joint ventures rather than a unified software product. In Energy, platforms include AMPYR Australia (grid-scale battery storage and renewable energy), AMPYR Distributed Energy (C&I onsite renewables in UK/Europe), AMPYR Solar Europe (solar parks in Germany, Netherlands, UK), AMPYR USA (utility-scale solar and battery), AMPYR India (C&I renewables), and AGP Alternatives (operational renewables in India). In Digital Infrastructure, platforms include Zerra DC (data centres across Australia, Japan, India), Digital Edge India (joint venture for 300MW Mumbai campus), and AGPDC US. In Real Estate, platforms include Assetz (sustainable townships in India), Freedom Lifestyle Villages (retirement living in New Zealand), Veres (logistics warehouses in Australia), and AGP Industrial Logistics Parks (industrial/warehousing in India). These are physical asset development and investment platforms, not software products.

Differentiator

Problem solved

Functional benefit

Brands

• AMPYR: Global clean energy brand encompassing utility-scale battery storage, solar, and distributed energy solutions across Australia, UK, Europe, USA, and India
• Zerra DC
• Assetz
• Veres
• Freedom Lifestyle Villages
• AGP Industrial Logistics Parks

Products and services

• AMPYR Australia Grid-scale battery energy storage systems (BESS) and utility renewable energy projects in Australia. On track to deliver more than 6 GWh of grid-scale battery storage in strategic grid locations by 2030, powering future industries including hyperscale data centers.
• AMPYR Distributed Energy (ADE) Provides fully-funded onsite solar PV, battery storage and power purchase agreements (PPAs) to commercial and industrial (C&I) customers across the UK and Europe, with no upfront cost to the customer.
• AMPYR Solar Europe (ASE) Joint venture with Hartree Partners developing a 7GW+ portfolio of solar parks across Germany, the Netherlands and the United Kingdom.
• AMPYR USA Joint venture with Hartree Partners developing utility-scale solar PV, BESS and PV-BESS hybrid projects across the United States, with a 2 GW pipeline.
• AMPYR India Joint venture with Climate Fund Managers Group developing C&I renewable energy projects in India, operating and developing over 1 GW of solar, wind and battery storage projects.
• Zerra DC Digital infrastructure platform developing and operating hyperscale data centers for cloud providers, hyperscalers and AI enterprises across Australia, Japan and India, including the 300MW Navi Mumbai campus with Digital Edge and NIIF.
• Assetz Largest Indian foreign-owned residential developer, delivering sustainable townships and affordable homes in Bangalore, India. Has delivered over 25 million sq ft of residential product with annual unit sales greater than 3,500 homes per annum.
• Veres Logistics real estate platform developing logistics warehouses in Australia.
• Freedom Lifestyle Villages Developer, owner and operator of lifestyle-focused retirement living communities in New Zealand.
• AGP Industrial Logistics Parks (AGPIL) Industrial and warehousing developer in India, focused on Grade-A logistics and warehousing assets.
• AGP Sustainable Real Assets Funds Closed-end and open-ended investment vehicles (AGP Capital Holdings Pte. Ltd. and AGP Sustainable Real Assets Holdings VCC) that deploy wholesale institutional capital into sustainable real assets across energy, digital and real estate. Managed by Lucerne Asset Management, which holds a Capital Markets Services licence.

Quantifiable outcome

• 30 million sq ft of built assets delivered across offices, residential and industrial development
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• InCommoditiescoreStrategic or Co-development Partner · 27 November 202515-year battery storage agreement for Bulabul BESS project in Wellington, NSW. Partnership worth in excess of $300 million for up to 15 years across battery projects. InCommodities' first long-term 10+ year commitment in Australia.
• Shawton EnergymajorStrategic or Co-development Partner · 24 November 2025Acquisition of Shawton Energy by AMPYR Distributed Energy - established provider of fully-funded solar solutions to UK businesses. Shawton retains brand, team, offices in Warrington.
• Green Gold EnergymajorStrategic or Co-development Partner · 12 November 2025Agreement to acquire Davenport BESS project (renamed Northern Battery) in South Australia - 270 MW with up to 8 hours of energy storage at former Port Augusta coal site. GGE developed project since 2023.
• Wambal BilamajorStrategic or Co-development Partner · 7 August 2025First Nations equity partnership giving Wellington Aboriginal community option to take 5% equity stake in Bulabul Battery. Market-first model for long-term community benefit without native title rights.
• Digital EdgecoreStrategic or Co-development Partner · 1 January 2024Three-way collaboration with NIIF and AGP for 300MW hyperscale facility in Navi Mumbai. Also collaborating on renewable energy PPA (83MW solar) for BOM campus with Hexa Climate Solutions.
• Hartree PartnerscoreStrategic or Co-development PartnerJoint venture partner for AMPYR Solar Europe (developing 7GW+ portfolio of solar parks in Germany, Netherlands, UK) and AMPYR USA (2 GW pipeline across solar PV, BESS, PV-BESS hybrid projects).
• Assetz Property GroupcoreStrategic or Co-development PartnerAGP-founded residential development platform in India. Largest Indian foreign-owned residential developer, delivered over 25 million sq ft, sold to Blackstone. Continues residential development today.
• Watson Farley & Williams LLPminorImplementation/ SI/ Consulting PartnerLegal advisor to AMPYR Distributed Energy on the £50 million mezzanine financing facility.
• Sidley Austin LLPminorImplementation/ SI/ Consulting PartnerLegal advisor to Franklin Templeton on the mezzanine financing arrangement.
• Orrick LLPminorImplementation/ SI/ Consulting PartnerLegal advisor to CACIB on the mezzanine financing arrangement.

Scale indicators18 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• EdgeConneX: Hyperscale and edge data center developer with global operations. Comparable to Zerra DC as a direct competitor in developing capacity for hyperscale and neocloud customers, particularly across APAC.
• Digital Edge: APAC-headquartered hyperscale and enterprise data center operator; AGP's JV partner for the 300 MW Navi Mumbai campus. Directly competes with Zerra DC while also being a co-developer on specific projects.
• Quinbrook Infrastructure Partners: Specialist sustainable infrastructure investment manager with a focus on renewables, grid-scale storage, and digital infrastructure. Highly comparable to AGP's AMPYR energy and Zerra DC platforms in mandate and asset focus.
• Stonepeak: US-based infrastructure investment firm and AGP's strategic capital partner (up to $1B). Directly comparable as a dedicated real assets infrastructure investor focused on communications, energy transition, and transport; both firms pursue similar sustainable infrastructure strategies.
• Morrison & Co: Asia-Pacific-focused infrastructure investor managing renewable energy, digital infrastructure, and social infrastructure platforms. Closely comparable to AGP's regional footprint and sector mix, with overlapping APAC institutional LP base.

Broad incumbents

• DigitalBridge: Global digital infrastructure investment manager focused on data centers, towers, fiber, and edge. Highly comparable to Zerra DC's hyperscale data center development mandate, with Vantage Data Centers as a flagship portfolio company.
• Brookfield Asset Management: One of the world's largest alternative asset managers with a major infrastructure and renewable energy platform (Brookfield Renewable). Comparable as a broad incumbent investing in real assets across energy, digital infrastructure, and real estate globally, though at a far larger scale than AGP.
• Macquarie Asset Management: Global asset manager with one of the world's largest infrastructure platforms (Macquarie Infrastructure and Real Assets). Comparable as a broad incumbent operating across renewables, digital infrastructure, and real estate in APAC.
• KKR Global Infrastructure: Major alternative asset manager with a sizable global infrastructure platform spanning renewables, data, and real assets. Comparable as a broad incumbent competing for the same institutional LP capital and sustainable infrastructure deal flow.

Regional players

• NIIF (National Investment and Infrastructure Fund): India's sovereign-backed infrastructure investment fund; AGP's JV partner via Master Fund II. Comparable as an institutional investor in Indian digital and energy infrastructure with overlapping mandate in data centers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInau.linkedin.com/company/agp-sustainable-real-assets

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AGP Sustainable Real Assets