Keppel's Alpha secures S$360m separate account mandate from Dutch pension fund manager

KEPPEL Capital Holdings' private fund management arm Alpha Investment Partners has been awarded a S$360 million separate account mandate from cooperative Dutch pension fund service provider PGGM.

The Alpha Asia Separate Account includes a top-up option of up to S$320 million, which would bring the aggregate commitment to S$680 million if the top-up option were fully exercised. It will focus on core-plus opportunities predominantly in commercial real estate in key cities in Japan, China, as well as in Singapore, according to a joint press statement by Alpha and PGGM on Thursday.

Alvin Mah, chief executive officer of Alpha, said: "The new investment mandate bears testimony to the confidence that institutional investors have in Alpha's capabilities in delivering sound returns for our investors."

Since 2004, Alpha has executed 190 transactions with gross acquisition value of over US$26 billion for its managed funds across the strategy spectrum.

The separate account mandate award is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation for the current financial year.