Keppel Capital secures new $299m for fund
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The asset management arm of Keppel Corp has announced new capital commitments of US$210 million (S$299 million) for its Keppel Asia Infrastructure Fund.
Keppel Capital said yesterday that the second closing of its fund has secured commitments of US$60 million.
The Asian Infrastructure Investment Bank has also approved a US$100 million commitment as well as a co-investment sleeve of up to US$50 million.
The fund achieved initial commitments of US$360 million in January.
Together with its co-investment vehicles, the fund has already acquired a 30 per cent interest in the Gimi floating liquefied natural gas facility, which is undergoing conversion at Keppel Offshore & Marine.
Keppel Capital chief executive Christina Tan said the Covid-19 crisis is creating dislocations in the market and opportunities to invest in businesses with high growth potential.
"The momentum of the Keppel Asia Infrastructure Fund and its ability to attract quality investors are testament to the strength of (its) value propositions," Ms Tan added. "The fund is uniquely positioned to invest in critical infrastructure assets which provide essential services in good and bad times."
Keppel Corp shares closed down 0.9 per cent at $5.66 after the announcement was made yesterday.
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