Keppel snags US$600mil in separate managed accounts


The SMAs were put together by leveraging Keppel Corp’s expertise and network in renewables, decarbonisation solutions, energy and infrastructure, which are Keppel’s focus areas under its long-term Vision 2030 transformation plan.

SINGAPORE: Keppel Capital, the asset management arm of Keppel Corp, has secured an aggregate of US$600mil (RM2.5bil) in separate managed accounts (SMA) from international financial institutions.

“The SMAs focus on global infrastructure projects with long-term utility-like contracted cash flows”, the firm said.

The SMAs were put together by leveraging Keppel Corp’s expertise and network in renewables, decarbonisation solutions, energy and infrastructure, which are Keppel’s focus areas under its long-term Vision 2030 transformation plan.

Keppel Capital chief executive Christina Tan said the firm is well positioned to collaborate with and harness synergies from Keppel Corp’s sister entities such as Keppel Asia Infrastructure Fund and Keppel Infrastructure Fund Management.

The move comes as Keppel Capital is seeing an increasing appetite for infrastructure investments, which are often viewed as an attractive asset class with long-term stable cash flows.

“SMAs are less susceptible to major economic cycles, short-term fluctuations and provides sustainable, stable and predictable income streams,” it said.

Keppel Capital had assets under management of approximately S$37bil (RM115.2bil) as at end-2020, including in real estate, infrastructure and data centre assets in key global markets.The firm aims to create value and deliver sustainable returns for institutional and retail investors through a range of products such as listed real estate investment trusts, business trusts, private funds SMAs and pooled investment vehicles.

Yesterday’s developments are not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corp, which announces its results for the first half of the year tomorrow.

Last month, Keppel Corp announced a non-binding agreement to merge its offshore and marine arm with Sembcorp Marine following an extended period of low oil prices and persistent disruptions in the oil and gas sector. — The Straits Times/ANN

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

MUI Group's PMC to buy 51% stake in A&W Malaysia
Yinson reports third straight quarterly earnings growth
KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks
FBM KLCI broadly higher on bargain-hunting activities
BNM's international reserves at US$116.2bil as at Sept 15
China stocks end higher, Evergrande's assurances lift real estate firms
Maybank, UOB to jointly underwrite RM2bil Islamic facility for Malayan cement
DFIs provide micro-SMEs with financing totalling RM8.1bil
Oil prices rise on tight supply, renewed risk appetite
Citi Malaysia bags multiple banking awards

Stories You'll Enjoy


Vouchers