Singapore’s Keppel Capital raises $360m for new $1b infrastructure fund

Photo: Keppel

Keppel Capital, the asset management arm of Singapore conglomerate Keppel Corporation, has raised $360 million for an initial close of a new infrastructure private equity fund.

According to a statement, the asset manager is targeting to raise $1 billion for the closed-end Keppel Asia Infrastructure Fund. Capital commitments for its first close were secured from investors including a sovereign wealth fund and an endowment fund, the firm said.

The Keppel infrastructure fund is picking up a stake in Gimi floating liquified natural gas (FLNG) facility, which is currently undergoing conversion at Keppel Offshore & Marine, as its first investment. It will target to invest in operational assets as well as selected greenfield projects in the Asia Pacific region.

Keppel Capital Alternative Asset, a private fund manager under Keppel Capital that focuses on new alternative asset classes including infrastructure, senior living and education, will manage the new Asia infrastructure fund.

“Keppel Capital is well positioned to leverage the Group’s expertise and network in energy and infrastructure to create innovative investment solutions and connect our investors with high-grade sustainable infrastructure assets,” said Keppel Capital CEO Christina Tan in a statement.

Keppel Capital had assets under management of approximately S$33 billion as at the end of 2019. Its portfolio includes real estate, infrastructure and data centre assets in global markets.

The firm caters to institutional and retail investors and offers a range of products including listed REITs, business trusts, private funds, separate accounts and pooled investment vehicles.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.