Keppel secures US$600m separate managed accounts from global financial institutions

BN4 'S asset management arm Keppel Capital has secured an aggregate of US$600 million of separate managed accounts (SMAs) from international financial institutions, the conglomerate said in a bourse filing on Tuesday.

The SMAs, which focus on global infrastructure projects with long-term utility-like contracted cash flows, will "ride on opportunities arising from the increasing trend of infrastructure investments", Keppel said.

Chief executive of Keppel Capital Christina Tan said: "The recent volatility in the global markets underscores the demand for real assets with long-term stable cash flows."

Keppel added that many investors see infrastructure as an attractive asset class that is less susceptible to major economic cycles, short-term fluctuations and provides sustainable, stable and predictable income streams.

The group expects the deals will not have any material impact on the earnings per share and net tangible assets per share of Keppel for the current financial year.

Shares of Keppel were trading at S$5.28 as at 9.08am on Tuesday, up S$0.03 or 0.6 per cent.