Keppel Capital Holdings’ Alpha Asia Macro Trends Fund IV (AAMTF IV) has achieved its first closing of US$295 million ($400.4 million) including co-investment on Oct 21.
The fund, which was launched through Keppel Capital’s private fund management arm, Alpha Investment Partners Limited, has a target fund size of US$1 billion.
The fund is expected to have assets under management (AUM) of up to US$2.5 billion when fully leveraged and invested.
Launched in 2007, AAMTF IV is the fourth value-add pan-Asian fund in Alpha’s flagship Alpha Asia Macro Trends series. The fund seeks to invest in multi-asset classes across key gateway cities in the Asia Pacific region including Singapore, Beijing, Tokyo, Seoul and Melbourne.
The target asset classes comprise offices, business parks, logistic facilities, retail and accommodation assets.
“In the current market conditions, we are monitoring developments for potential dislocations where stress is being observed, which create opportunities for investments with good growth potential,” says Alvin Mah, CEO of Alpha.
“We thank our investors for their strong vote of confidence, leading to the successful completion of the fund’s first close amidst the Covid-19 pandemic. This is testament to the viability of the fund strategy as well as our capabilities in generating returns for our investors,” Mah adds.
The first closing of the fund is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corp for the current FY.
Shares in Keppel Corp closed 3 cents lower or 0.7% down at $4.55 on Oct 20.
