Keppel’s private fund, the Keppel Education Asset Fund (KEAF), is expanding its quality portfolio with the acquisition of two education assets in Sydney at an aggregate purchase price of approximately A$198 million ($128 million). This would bring Keppel’s portfolio to A$4.8 billion ($3.1 billion) of assets in Australia upon completion of both acquisitions.
Backed by institutional investors, including a large sovereign wealth fund and pension funds, KEAF’s investment objective is to make strategic investments in education-related assets, including those in the kindergarten to 12th grade (K12), higher education as well as research and tertiary education segments in Asia Pacific. Keppel, as the sponsor, has committed $50 million to KEAF. Following its launch in 2020, KEAF has successfully worked with established operators to capitalize on the fast-growing education sector in the region, and currently has two education assets in Singapore and Japan.
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