Singapore-based Keppel Infrastructure Fund (KIF) and its co-investor have acquired subsea cable solutions provider Global Marine Group (GMG) from investment affiliates of JF Lehman & Company.
Headquartered in the UK, GMG operates a fleet of six vessels providing mission-critical maintenance and installation services for the global subsea fibre optic cable network.
Christina Tan, Keppel鈥檚 CEO of fund management & CIO, said: 鈥淚t is a rare and unique opportunity to acquire a world-leading provider of subsea cable maintenance and installation services. This investment builds on Keppel鈥檚 digital infrastructure strategy which includes the Bifrost Cable System, and now, GMG.
鈥漌ith a substantial proportion of GMG鈥檚 business secured by long-term contracts with huge growth potential, especially in Asia, we are poised to deliver attractive risk-adjusted returns to our investors.鈥�
KIF, formerly Keppel Asia Infrastructure Fund II, is Keppel鈥檚 private investment vehicle that provides growth capital to operating businesses and standalone projects in the infrastructure space and applies value-add investment strategies to its portfolio companies. GMG marks the first investment by the fund.
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