KEPPEL Infrastructure Trust (KIT) announced on Wednesday (Jun 7) that Kevin Neo will be appointed as the deputy chief executive officer (CEO) of the trustee-manager with effect from Jun 8.

Neo will take over from current CEO Jopy Chiang from Oct 1. Chiang will assume the role of chief investment officer (infrastructure) at Keppel Corporation.

Neo is currently a senior member of the trustee-manager’s investment team. He joined Keppel in 2016 and has over 16 years of experience in investment across a wide range of infrastructure assets across markets, said Keppel in a statement.

Since joining the trustee-manager, Neo has led the investment for several major transactions.

This includes KIT’s acquisition of a stake in Borkum Riffgrund 2, a German offshore wind farm; Eco Management Korea, a South Korean waste management company; Ixom, an Australian water treatment and chemical distribution company; as well as a stake in Philippine Coastal Storage & Pipeline, the largest petroleum products import storage facility in the Philippines.

Before joining Keppel, he held mergers and acquisitions (M&A) advisory and investment positions in PwC Corporate Finance and Singapore Power.

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Daniel Ee, chairman of KIT’s trustee-manager, said: “Kevin’s successful track record in investments, portfolio management as well as in M&As will help to position KIT for its next phase of growth. The board looks forward to working with Kevin and the management team to continue to grow KIT and deliver value to unitholders.”

Under Chiang’s leadership, KIT underwent a portfolio transformation and closed four major acquisitions, growing its assets under management from about S$4.5 billion in 2021 to approximately S$7.3 billion today. It also expanded into new sectors, such as renewables, and new markets in Europe, the Middle East and Asia.

Units of KIT closed unchanged at S$0.485 on Wednesday before the announcement.