Keppel Surpasses S$100 Billion Funds Under Management Target Ahead of Schedule

Keppel Ltd., a Singapore-based global asset manager and operator, has exceeded its interim target of S$100 billion in funds under management (FUM) ahead of schedule. The company added approximately S$13.5 billion to its FUM across infrastructure, real estate, and connectivity private funds in the year to date, bringing the total to over S$100 billion. This growth was driven by about S$7.8 billion in new capital commitments from global limited partners, including investments in Aermont Fund VI, Keppel Education Asset Fund II, and a separately managed account with a sovereign wealth fund focused on infrastructure and data centre opportunities. CEO Loh Chin Hua highlighted that the increasing FUM creates a "flywheel" effect, expanding both asset management and operating income through recurring fees, sponsor stakes, and co-investments. He emphasized that the company's key focus remains on the investment performance of its funds to sustain this growth. Keppel's integrated digital infrastructure ecosystem, particularly its data centre expertise, has been a significant factor in attracting investor interest and driving fundraising momentum. The company has secured S$7.7 billion in equity commitments for its private infrastructure strategies, providing a strong capital base to pursue an acquisition pipeline exceeding S$22 billion. These developments are not expected to have a material impact on Keppel's earnings per share or net tangible assets per share for the current financial year.