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Fundraising - JANUARY 21, 2022

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Keppel Capital Holdings closes second data-center fund at $1.1b

by Kali Persall

Keppel Capital Holdings has closed its Keppel Data Centre Fund II (KDC Fund II) with $1.1 billion of total commitments, including co-investment capital.

KDC Fund II will make strategic investments in the fast-growing data-center sector in Asia Pacific and Europe.

Launched in December 2020, KDC Fund II attracted a diverse group of investors from Asia and Europe, including the Asian Infrastructure Investment Bank (AIIB), which contributed $100 million via a parallel fund structure and $50 million through co-investments. In addition, sovereign wealth funds, financial institutions, insurance funds and pension funds all contributed to the capital raise.

KDC Fund II is managed by Alpha Investment Partners, a private fund manager under Keppel Capital.

“The digitization megatrend is reshaping global markets and business operations,” said Dongik Lee, director general, banking department (Region 1) at AIIB. “This trend has been accelerated by the COVID-19 pan

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