Noting that the COVID-19 pandemic has accelerated the tempo of digitalization for a lot of companies and governments additional spurring the expansion of the information middle sector, Keppel Capital Holdings Pte. Ltd. has launched its second knowledge middle fund.
Keppel Knowledge Centre Fund II, which is able to concentrate on strategic investments in Asia-Pacific and Europe, has attracted preliminary capital commitments of greater than $500 million. The fund has a goal dimension of $1 billion.
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The primary knowledge middle fund, Alpha Knowledge Centre Fund, was launched in 2016. The portfolio now spans 1.4 million sq. ft and has investments in key hubs together with Singapore, Malaysia, Indonesia, Germany, Australia and China.
KDC Fund II is managed by Alpha Funding Companions Ltd., a non-public fund supervisor underneath Keppel Capital. Alpha is the asset supervisor of Keppel Corp., one in every of Singapore’s main multinational firms that focuses on options for sustainable urbanization, vitality and surroundings, city growth, connectivity and asset administration. KDC Fund II will leverage Keppel Knowledge Centres Holdings’ experience in creating, working and sustaining high quality knowledge facilities to seize funding alternatives in greenfield and brownfield knowledge middle property.
Alvin Mah, Alpha CEO, mentioned in a ready assertion KDC Fund II will put sustainability on the core of the technique and can, at any time when attainable, faucet Keppel Group’s experience in sustainable know-how and vitality effectivity to develop greener knowledge facilities. Mah mentioned he expects that may set KDC Fund II aside from others.
Wong Wai Meng, CEO of Keppel Knowledge Centres, mentioned in ready remarks that the agency has been collaborating with business leaders to discover how the carbon footprint of knowledge facilities could be diminished. He cited a number of developments to take action together with the event of floating knowledge middle parks, tapping chilly vitality launched from LNG re-gasification for cooling, hydrogen infrastructure for energy era and accelerating the adoption of renewable vitality in addition to the event of carbon seize, utilization and sequestration (CCUS) methods.
KDC Fund II and Keppel Knowledge Centres additionally plan to faucet different enterprise models within the group for experience in cooling and use of renewable vitality, together with Keppel Infrastructure and Keppel Renewable Vitality.
U.S. Workplace Offers
Keppel Capital has additionally made its mark within the U.S., launching Prime US REIT on the Singapore Change in 2019 with KBS, a business actual property investor that serves because the U.S.-based asset supervisor of the REIT’s portfolio. Earlier this yr in February, Prime US REIT acquired the 24-story, 480,171-square-foot Park Tower, a Class A workplace constructing in downtown Sacramento, Calif., for $165.5 million from Hines.
In 2017, an earlier REIT, Keppel-KBS US REIT, acquired 11 U.S. workplace properties totaling about 3.2 million sq. ft from KBS Strategic Alternative REIT Inc. for about $804 million. The portfolio consisted of property in metro areas of Seattle; Sacramento; Denver; Houston; Atlanta; Austin, Texas; and Orlando, Fla.