KEPPEL Corp's asset management arm Keppel Capital on Wednesday said it has launched the Alpha Asia Macro Trends Fund IV with a target fund size of US$1 billion and achieved its first closing of US$295 million, including co-investment.
According to Keppel, the fund has seen strong support from investors from the insurance, endowment and pension segments, the majority of whom are from Alpha Investment Partners' existing investor base. Alpha Investment Partners is Keppel Capital's private fund management arm. Based on the target fund size of US$1 billion, when fully leveraged and invested, AAMTF IV is expected to have assets under management of up to US$2.5 billion, Keppel said in a press statement.
AAMTF IV is the fourth value-add pan-Asian fund in Alpha's flagship Alpha Asia Macro Trends series. Launched in 2007, the series focuses on mega trends underpinning long-term growth, which include urbanisation, growing middle class and connected cities, Keppel noted. Similar to its predecessor funds, AAMTF IV seeks to invest in multi-asset classes across key gateway cities in the Asia-Pacific region, including Singapore, Beijing, Shanghai, Tokyo, Seoul, Hong Kong, Sydney, Melbourne and Brisbane.
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