SINGAPORE - Keppel Corp is aiming to raise its current $50 billion in assets under management (AUM) to $200 billion by 2030 under its drive to be a leading global asset manager.
The new target was disclosed by chief executive Loh Chin Hua in the company’s annual report released on Thursday.
Keppel will be investing in solutions that help its customers in their digitalisation and net-zero journeys.
“We will accelerate Keppel’s evolution into a global asset manager with strong operating capabilities, focused on creating sustainability-related solutions, which are seeing strong demand,” he said in the report.
Mr Loh also provided details of three new funds: One is the flagship Keppel Core Infrastructure Fund, launched in 2022 with a target size of US$2.5 billion (S$3.3 billion). This fund positions Keppel to capture the growing demand for sustainable infrastructure in Singapore and the region, he said.
The Keppel Sustainable Urban Renewal Fund was also launched in 2022, with a target size of US$2 billion. This fund is focused on opportunities to retrofit and repurpose existing buildings.
“A sizable share of real estate development over the next decade is expected to be based on retrofitting and repurposing existing buildings,” said Mr Loh.
