Keppel Capital's fund closes at US$1.1b, exceeds targets

KEPPEL Capital Holdings' private fund management arm Alpha Investment Partners has announced the final closing of the Alpha Asia Macro Trends Fund (AAMTF) III, having raised a total of about US$1.1 billion, including co-investments.

This exceeded its initial target of US$1 billion. AAMTF III, the third value-add pan-Asian fund in the Alpha Asia Macro Trends series, saw a diverse group of institutional investors, including pension funds, endowments and insurance companies.

Launched in 2007, the series focuses on "mega trends driving long-term growth in Asia-Pacific", which include urbanisation, growing consumerism and intra-regional tourism.

AAMTF III targets to invest in multi-asset classes across key gateway cities in the Asia-Pacific region, including Singapore, Shanghai, Beijing, Tokyo, Sydney, Melbourne, Brisbane and Seoul. The target asset classes comprise retail and accommodation assets as well as offices, business parks and logistic facilities. To date, the fund has made investments in Shanghai, Tokyo and Brisbane.

When fully leveraged and invested, AAMTF III will have assets under management (AUM) of about US$2.4 billion.

Including AAMTF III, Alpha currently manages six real estate and data centre funds with total AUM of US$9.5 billion as at Dec 31 last year on a fully leveraged and invested basis.