Keppel exceeds S$100 billion target for funds under management ahead of schedule

[SINGAPORE] Global asset manager and operator Keppel has surpassed its end-2026 interim funds under management (FUM) target of S$100 billion ahead of schedule, the group announced on Tuesday (Jul 28).

The group added around S$13.5 billion in FUM across its infrastructure, real estate and connectivity private funds year to date. The growth was driven by roughly S$7.8 billion in new capital commitments secured from global limited partners.

These new commitments spanned multiple private funds and vehicles, including Aermont Fund VI, Keppel Education Asset Fund II and a separately managed account with a sovereign wealth fund focused on infrastructure and data centre investments.

Keppel CEO Loh Chin Hua said: “As our FUM continues to grow, it creates a flywheel that expands both asset management income and operating income.

“Beyond recurring fees from operating and maintaining assets such as the Bifrost Cable System and the new Keppel Sakra Cogen Plant, we are also able to generate stronger earnings and cash flows through our sponsor stakes and co-investments.”

He added that the company’s key focus remains the investment performance of its funds to underpin sustained FUM growth.

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“Keppel’s private infrastructure strategies have secured S$7.7 billion of equity commitments to date, providing a strong capital pool to pursue a growing acquisition pipeline in excess of S$22 billion,” Keppel said.

The company stated that these fundraising achievements are not expected to have a material impact on its earnings per share or net tangible assets per share for the current financial year.