Keppel's stock surged 3.06% during Tuesday's intraday trading session, driven by positive investor sentiment following news of a significant capital injection into one of its investment funds.
The Asian Infrastructure Investment Bank has committed $75 million to Keppel Private Credit Fund III, with an additional co-investment sleeve of up to $50 million, bringing the AIIB's total potential investment to $125 million. This marks the first investment from AIIB following a previous agreement between the two parties to facilitate up to $1.5 billion worth of sustainable infrastructure investments in the Asia Pacific region.
The fresh capital will boost the fund's assets under management to over $561 million, demonstrating institutional confidence in Keppel's fund management capabilities. Keppel has deployed over $1 billion across 34 investments since 2016 through its private credit fund series, focusing on core infrastructure, renewables, data centers, and social infrastructure projects in the region.