Keppel Ltd. has surpassed its end-2026 interim funds under management (FUM) target of S$100 billion (US$77.4 billion) ahead of schedule, driven significantly by new capital commitments of approximately S$7.8 billion (US$6 billion) from global Limited Partners (LPs). Digital infrastructure, particularly data centers, played a key role in attracting these commitments, according to a press release from the Singapore-headquartered global asset manager.The S$7.8 billion in new capital was secured across various funds, including Aermont Fund VI, Keppel Education Asset Fund II, Keppel Private Credit Fund III, Keppel Offshore Fund, a specific data center opportunity, and a separately managed account with a sovereign wealth fund focused on infrastructure and data center opportunities. In total, Keppel secured about S$13.5 billion (US$10.4 billion) in new FUM across its Infrastructure, Real Estate, and Connectivity private funds in the year to date, contributing to the early achievement of its interim target.
Digital Infrastructure Focus
Keppel highlighted that its integrated digital infrastructure ecosystem and data center expertise have supported Aermont Capital‘s expansion into the data center asset class. The company’s Keppel Data Centre Fund series continues to offer investors exposure to data centers in the Asia Pacific region. Beyond core data centers, the Keppel Infrastructure Fund series also facilitates investment in enabling digital infrastructure assets such as power, subsea cables, and marine installation and maintenance capabilities, which are crucial for artificial intelligence (AI), cloud computing, and digitalisation.Loh Chin Hua, CEO of Keppel, stated that surpassing the interim FUM target ahead of schedule marks an important milestone in Keppel’s growth as a global asset manager and operator. He added that it reflects the steady execution of their strategy and the trust global LPs have placed in their ability to originate opportunities, create value, and deliver attractive returns. The company noted that its private infrastructure strategies have secured S$7.7 billion of equity commitments to date, supporting a growing acquisition pipeline in excess of S$22.0 billion.