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Keppel unit to set up Australian property fund

The join venture with Vicinity Centres will be Keppel Capital's first retail-focused real estate fund

Keppel Capital Ventures - a wholly owned subsidiary of Keppel Capital - and Vicinity Centres will manage the proposed fund via a 50-50 joint venture, with each party expected to initially take a 10 per cent equity interest in the proposed fund, targeted to close by the end of the first quarter in 2019.


KEPPEL Corporation, through its asset management arm Keppel Capital Holdings, has entered into a memorandum of understanding with Australian-listed retail property group Vicinity Centres to establish a new private fund which will invest an initial A$1 billion (S$1.01 billion)...

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