By Joyce Koh
Acquiring Ixom would help Keppel Infrastructure, led by recently appointed Chief Executive Officer Matthew Pollard, to widen its exposure beyond Singapore.
The merger has created Singapore’s fourth-largest industrial real estate investment trust (REIT) with combined assets worth over $2.2 billion.
China-ASEAN Investment Cooperation Fund (CAF) is reportedly seeking up to $3 billion for its latest fund.
The vehicle has so far raised $280 million and expects to secure further commitments from now through December.
About 70-80 per cent of buyouts in Asia today are secondaries i.e. from one PE firm to another.
The project is part of a broader “Smart Nation” plan developed by the Singapore government to use cutting-edge technology, designed to improve people’s lives.
OUE Lippo Healthcare will acquire a 40% stake in Bowsprit and 10.63% of First REIT for a total of approximately S$142 million ($104 million).
The Singapore bank is also weighing options for its non-life business, which is run by publicly-listed United Overseas Insurance Ltd.
hoolah launched its commercial operations in Singapore in February 2018, focusing on online merchants in the retail, travel and airline verticals.
Other investors participating in the round are Indonesia’s Central Capital Ventura and Indonusa Dwitama.