Friday 29 Mar 2024
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SINGAPORE (July 1): Keppel Corporation says it has completed the consolidation of its interests in four asset management businesses under its wholly-owned subsidiary, Keppel Capital Holdings.

Following the consolidation, Keppel Capital now owns the 100% stake in Keppel REIT Management, Alpha Investment Partners and Keppel Infrastructure Fund Management. It also owns a 50% stake in Keppel DC REIT Management. The remaining 50% stake in Keppel DC REIT Management will continue to be held by Keppel Data Centres, a wholly-owned subsidiary of Keppel Telecommunications & Transportation.

Keppel Capital also has assets under management of about S$26 billion in the real estate, infrastructure and data centre spaces. In 2015, the asset management business contributed S$60 million to group earnings, says Keppel.

The group also added that the formation of Keppel Capital is expected to allow the group to recycle capital more effectively, and increase its capital base through co-investments.

Keppel’s shares closed higher at S$5.51 on Friday.

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