Keppel credit fund hits US$561m after US$125m AIIB commitment

KPCF III is the third vintage in Keppel’s private credit fund series.

Keppel Private Credit Fund III has grown its funds under management to over US$561m after securing a commitment of up to US$125m from the Asian Infrastructure Investment Bank.

The commitment comprises US$75m to the fund and a co-investment sleeve of up to US$50m, marking AIIB’s first investment under a strategic partnership agreement signed with Keppel in June 2025.

The partnership aims to facilitate and mobilise up to US$1.5b in sustainable infrastructure investments and financing opportunities across the Asia Pacific.

KPCF III is the third vintage in Keppel’s private credit fund series and has raised 170% of the third-party capital achieved by its predecessor fund.

To date, approximately US$260m has been deployed under KPCF III across core infrastructure, renewables, data centres, and social infrastructure projects in the Asia Pacific.

Keppel said the development is not expected to have any material impact on its earnings per share or net tangible assets per share for the current financial year.

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