Keppel secures nearly $2b in capital commitments across three flagship funds

This brings Keppel’s FUM to approximately $4.9b.

Keppel Ltd. has secured close to $2.0b in capital commitments from global institutional investors across three of its flagship strategies.

The funds are Keppel Data Centre Fund III (KDCF III), Keppel Education Asset Fund II (KEAF II), and the Sustainable Urban Renewal (SUR) strategy.

The total brings Keppel’s funds under management (FUM) to approximately $4.9b.

KDCF III raised $786 m (US$580m) in its first close, targeting sustainable, high-performance data centres in Asia-Pacific, with a focus on hyperscale tenants.

KEAF II secured $413m (US$307m) from a mix of returning and new investors. The fund invests in education-related assets across the region.

The SUR strategy added $760m, including capital from a major European pension fund, bringing its total AUM to $4.3b. It focuses on decarbonising real estate while delivering strong returns.

Keppel said these developments are not expected to materially affect its earnings per share or net tangible assets per share for the current financial year.

Keppel CEO of Fund Management and CIO, Christina Tan, said the new capital reflects strong investor demand for alternative real assets aligned with macrotrends such as climate change, digitalisation, and urbanisation.

She added the company is on track to hit its interim FUM target of $100b by 2026.

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