Keppel Capital has announced the launch of two funds with a combined goal of over US$5 billion.

The asset manager is currently raising capital for the latest flagship Keppel Core Infrastructure Fund. The fund focuses on key infrastructure assets in the Asia-Pacific region, including power and water generation and waste management infrastructure, which are developed, owned and operated by other Keppel business units. The fund is also exploring opportunities in core properties, also known as operating assets, with a proven track record of solid performance. The fund is targeting US$2.5 billion. 

Keppel Sustainable Urban Renewal Fund aims at retrofitting and rejuvenating existing commercial buildings with sustainable urbanization solutions. The fund was launched in 2022 with a target size of US$2 billion. With the full deployment of the Keppel Asia Infrastructure Fund, Keppel Capital plans to launch the Keppel Asia Infrastructure Fund II. The fund will be launched under the management of the private arm of Keppel Capital Alternative Asset. The size of the fund was not disclosed. 

Three funds are in line with Keppel's goal of increasing current assets under management from US$50 billion to US$200 billion by 2030.