Keppe has secured close to $2 billion in capital commitments from global institutional investors for its Keppel Data Centre Fund III (KDCF III), Keppel Education Asset Fund II (KEAF II) and Sustainable Urban Renewal (SUR) strategy. In an April 25 press release, the company says the new commitments bring the firm’s funds under management to around $4.9 billion.
KDCF II raised approximately US$580 million ($786 million) in its first close, which will be used to invest in data centres in the Asia Pacific (Apac) region.
KEAF II achieved its first close with around US$307 million in committed capital. The fund invests in education-related assets and facilities supporting early learning, K-12, higher education, tertiary education and student accommodation, focusing on the Apac region.
Meanwhile, $760 million was raised for Keppel’s SUR strategy, bringing its cumulative funds under management to roughly $4.3 billion to date. The strategy focuses on value-add real estate investment opportunities with the goal of decarbonising the built environment.
Investment opportunities currently being pursued under the SUR strategy include assets in the commercial, living, life sciences, hospitality and logistics sectors in Singapore, South Korea, Japan, Australia and China.
“The securing of about $2 billion in capital across Keppel’s flagship funds reflects the resilient demand for high-quality alternative real assets anchored to macrotrends such as climate change and energy transition, urbanisation as well as rapid digitalisation and the AI wave,” says Christina Tan, CEO of fund management and CIO at Keppel.
She adds: “This significant milestone brings us closer to our interim FUM target of S$100 billion by 2026, with ambitions to reach S$200 billion by 2030.”
