Keppel Capital gets first closing of US$295m for Alpha Asia Macro Trends Fund IV

Wed, Oct 21, 2020 – 10:32 AM

KEPPEL Corp’s asset management arm Keppel Capital on Wednesday said it has launched the Alpha Asia Macro Trends Fund IV (AAMTF IV) with a target fund size of US$1 billion and achieved its first closing of US$295 million, including co-investment.

According to Keppel, the fund has seen strong support from investors from the insurance, endowment and pension segments, the majority of whom are from Alpha Investment Partners’ existing investor base. Alpha Investment Partners is Keppel Capital’s private fund management arm.

Based on the target fund size of US$1 billion, when fully leveraged and invested, AAMTF IV is expected to have assets under management of up to US$2.5 billion, Keppel said in a press statement.

AAMTF IV is the fourth value-add pan-Asian fund in Alpha’s flagship Alpha Asia Macro Trends series. Launched in 2007, the series focuses on mega trends underpinning long-term growth, which include urbanisation, growing middle class and connected cities, Keppel noted.

Similar to its predecessor funds, AAMTF IV seeks to invest in multi-asset classes across key gateway cities in the Asia-Pacific region, including Singapore, Beijing, Shanghai, Tokyo, Seoul, Hong Kong, Sydney, Melbourne and Brisbane.

The target asset classes comprise offices, business parks, logistic facilities, retail and accommodation assets.

Alvin Mah, chief executive officer of Alpha Investment Partners, said: “In the current market conditions, we are monitoring developments for potential dislocations where stress is being observed, which create opportunities for investments with good growth potential.”

The first closing of AAMTF IV is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corp for the current financial year.

Keppel Corp shares were trading at S$4.56 as at 10.17am on Wednesday, up S$0.01 or 0.2 per cent.

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