Keppel Capital to establish new $1 bil wholesale Australian property fund with Vicinity

SINGAPORE (Aug 6): Keppel Capital Ventures, the wholly-owned subsidiary of Keppel Capital Holdings, the asset management arm of Keppel Corp, has entered into a MOU with Vicinity Centres, a leading Australian retail property group listed on the Australian Securities Exchange, to establish a new private fund.

The proposed fund intends to invest in an initial A$1 billion ($1 billion) portfolio of Australian retail properties owned by Vicinity Centres.

The parties intend to manage the proposed fund through a joint venture where Keppel Capital and Vicinity will each hold a 50% stake.

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