Keppel, South Korean pension fund to explore opportunities in Asia

Keppel Corp unit Keppel Capital will work with the National Pension Service of Korea (NPS) to explore investment opportunities for private infrastructure in Asia.

The tie-up will bring together the asset management expertise of both NPS, the world's third largest pension fund, and Keppel Capital. It will capitalise on Keppel group's experience in developing and maintaining complex assets like energy and environmental infrastructure, including renewables , urban development and connectivity solutions.

There will also be potential collaboration opportunities in other asset classes where Keppel Capital is active in, such as real estate and data centres, and new sectors like senior living, said Keppel Corp.

Keppel Capital chief executive Christina Tan said: "Notwithstanding the current challenging macroeconomic environment, we are confident that by working together... we will be able to tap each other's expertise and capabilities."

The latest tie-up is not expected to have a material impact on Keppel Corp's net tangible assets or earnings per share for this financial year.

Keppel Capital has been active this year. As well as launching an Asian-focused infrastructure fund, it started a private credit fund and an Indonesian logistics property venture. It also partnered Australian Unity to establish funds aimed at the Australian metropolitan office sector. A fund managed by its unit invested 1.5 billion yuan (S$301 million) in a data centre in Huizhou, Guangdong province in July.

Keppel Corp shares closed down 2.1 per cent at $4.19 yesterday.

The tie-up will bring together the asset management expertise of both NPS, the world's third largest pension fund, and Keppel Capital.

 
 
A version of this article appeared in the print edition of The Straits Times on September 22, 2020, with the headline 'Keppel, S. Korean pension fund to explore opportunities in Asia'. Print Edition | Subscribe