A hefty commitment from the Asian Infrastructure Investment Bank has helped Keppel Capital close its second data centre-focused fundraise on $1.1bn of capital.
AIIB has agreed a $100m investment in KDC Fund II, and another $50m through co-investments.
The fund, which was launched in December 2020, will focus on making strategic investments in the fast-growing data centre sector in the Asia Pacific and Europe.
KDC Fund II is managed by Alpha Investment Partners, a private fund manager under Keppel Capital.
Alpha CEO Alvin Mah said, “Data centres form the foundation of the digital economy which underpins almost every aspect of modern life today.
“We are pleased to welcome Asian Infrastructure Investment Bank as an investor and look forward to strengthening our partnership through the Keppel Data Centre Fund II, which is seizing opportunities arising from the burgeoning demand for quality data centres.
“Working together with Keppel Data Centres, we are able to tap on the Keppel Group’s know-how in data centre operations excellence, sustainable technology and energy-efficiency to develop better and greener data centres, which is an increasing imperative for data centre operators.”
Dongik Lee, AIIB director general, banking department (Region 1), added, “The digitalisation mega trend is re-shaping global markets and business operations.
“This trend has been accelerated by the Covid-19 pandemic, further highlighting the importance of data centers which are essential components of the digital ecosystem and attractive investment targets, as identified by AIIB’s Digital Infrastructure Sector Strategy.
“Our partnership with KDC Fund II and Alpha will foster the development and enhancement of hard digital infrastructure to bridge the digital divide by mainly investing in colocation data centers that mostly serve Emerging Asia.”
Asian asset manager Keppel Capital had about S$37 under management at the start of 2021.
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