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Wed, Dec 16, 2020 – 8:32 am
The asset management arm of Keppel Corporation has launched a second data center fund, which will focus on making strategic investments in the “fast-growing” data center industry in Asia-Pacific and Europe.
Keppel Data Center Fund II has attracted seed capital commitments from several financial institutional investors and achieved its first close of more than $ 500 million, Keppel Corp said in an exchange presentation Wednesday morning. The fund has a target size of $ 1 billion.
The new fund is managed by Alpha Investment Partners, a private fund manager of Keppel Capital, the asset management arm of Keppel Corp. It will also leverage Keppel Data Centers Holdings’ expertise in developing, operating and maintaining data centers to capture investment opportunities in greenfield. and abandoned data center assets.
“The Covid-19 pandemic has accelerated the pace of digitization for many businesses and governments alike and has further stimulated the growth of the data center industry,” said Alvin Mah, CEO of Alpha Investment Partners.
“In line with Keppel’s Vision 2030, which places sustainability at the core of the group’s strategy, KDC Fund II will leverage, wherever possible, the Keppel Group’s knowledge of sustainable technology and energy efficiency to develop more data centers. ecological, “he said. additional.
Keppel Corp said that one of the key business imperatives for data centers is reducing carbon emissions, as data centers consume large amounts of energy to power and cool computer equipment.
He added that the new fund and Keppel Data Centers will take advantage of the experience of other business units of the group, such as Keppel Infrastructure and Keppel Renewable Energy, in aspects such as cooling and the use of renewable energy to improve their data center solutions.
Keppel Capital’s first data center fund, Alpha Data Center Fund, was launched in 2016. Its current portfolio spans more than 1.38 million square feet of gross floor space, with investments in countries such as Singapore, Malaysia, Indonesia, Germany. , Australia and China.
Keppel Corp said the first closure of its new fund is not expected to have any material impact on earnings per share and net tangible assets per share for the current financial year.
Shares of Keppel Corp closed unchanged at S $ 5.29 on Tuesday.
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