Keppel Capital is preparing to launch a new pan-Asian value-add property fund, to raise at least US$1bn (鈧�907m).
The fund will be the fourth in Singapore-based manager鈥檚 Alpha Asia Macro Trend series, first launched in 2007.
Keppel Capital raised US$1.1bn for its Alpha Asia Macro Trend Fund (AAMTF III) a year ago.
Christina Tan, Keppel Capital鈥檚 chief executive officer, said Keppel has fully committed the capital raised.
鈥淲e are in the throes of planning a follow-up to be launched this year,鈥� Tan told 91传媒在线. 鈥淥nce we reach our target of a billion dollars, we will close the fund quickly and start investing.鈥�
The strategy will be similar to that for Keppel鈥檚 third AAMTF fund, which was launched in 2016. The new fund will invest in key Asian cities and divest as the assets achieve maximum value.
Tan said AAMTF III began investing as it raised capital.
Tan told 91传媒在线 there was strong global interest in the Asia-Pacific region. 鈥淗alf the world鈥檚 population lives in Asia,鈥� she said.
鈥淥n the back of population growth, we are seeing exciting trends in urbanisation, growing consumerism and big infrastructure spending.鈥�
Late last month, Keppel Capital launched Keppel Asia Infrastructure Fund, its first unlisted pan-Asian infrastructure fund.
