Keppel Education Asset Fund acquires two assets in Sydney for $127m
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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