Keppel Capital has raised an initial US$360m (€327m) for a newly launched Asia infrastructure fund.
The manager said the Keppel Asia Infrastructure Fund – which is targeting a US$1bn fundraise – has achieved its first close with capital commitments from investors including a sovereign wealth fund and an endowment fund.
For its first investment, the Keppel fund will acquire an interest in the Gimi Floating Liquefied Natural Gas facility, which is currently undergoing conversion at Keppel Offshore & Marine in Singapore.
Christina Tan, CEO of Keppel Capital, said the new fund builds on the group’s ability to harness its collective strengths to create quality investments that are highly sought-after by global investors.
Keppel Capital is a subsidiary of the Keppel Group, which is involved in a diverse range of assets, “providing solutions for sustainable urbanisation”.
Tan said Keppel Capital was well-positioned to leverage its parent’s expertise and network in energy and infrastructure to create innovative investment solutions and connect investors with high-grade sustainable infrastructure assets.