Keppel has secured US$700m (€601m) in capital commitments from global investors for its Asia Pacific data centre and education assets funds, with “one of Europe’s largest pension funds” contributing $500m to the education fund.
The Keppel Education Asset Fund (KEAF) II’s total capital raised has crossed US$800m, and the Keppel Data Centre Fund III fund has secured an additional US$200m, bringing the total capital raised to nearly US$800m to date.
Christina Tan, CEO of fund management and CIO, Keppel, said: “Keppel’s private funds continue to attract robust investor interest, underscoring the strength of our platform and the appeal of strategies aligned with transformative megatrends.
“Education assets are increasingly valued for their defensive qualities and ability to generate stable returns, making them especially attractive in times of economic uncertainty.”
Tan added that data centres were a cornerstone of the digital economy, supported by the rapid expansion of cloud computing, artificial intelligence and digital infrastructure.
As its first investment, KEAF II has entered into a partnership agreement with New Zealand’s Precinct Properties to acquire an 80% stake in a purpose-built student accommodation facility in Auckland.
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