Keppel Capital Holdings launches new infrastructure fund

KEPPEL Capital Holdings has launched a new closed-end infrastructure private equity fund which has achieved its first closing with initial capital commitments of US$360 million.

Investors include a sovereign wealth fund and an endowment fund, it said. The fund has a target size of US$1 billion.

The Keppel Asia Infrastructure Fund's first planned investment is a stake in the Gimi floating liquefied natural gas facility, which is undergoing conversion at Keppel Offshore & Marine.

By tapping Keppel Capital's fund management experience and investor network - as well as the group's project development and asset management capabilities - the fund plans to expand its portfolio in the Asia-Pacific via operational assets and greenfield projects.

The fund will be managed by Keppel Capital Alternative Asset, which is a private fund manager under Keppel Capital. Keppel Capital Alternative Asset manages private funds investing in new alternative asset classes such as infrastructure, senior living and education.

Keppel Capital is the asset management arm of Keppel Corporation.