Keppel Capital Ventures, a wholly-owned subsidiary of Keppel Capital Holdings Pte., the asset management arm of Keppel Corp., has signed a nonbinding Memorandum of Understanding (MOU) with MindChamps PreSchool Limited (MindChamps), the first Singapore Exchange–listed operator of preschools and early learning centers.
The firms established a new private fund to be named Keppel MindChamps Education Real Estate Fund, which will have an initial target fund size of S$200 million ($147 million).
The parties intend to manage the proposed fund through a joint venture where Keppel Capital and MindChamps will each hold a 50 percent stake.
With Keppel Capital and MindChamps as sponsors, the proposed fund will seek to invest in preschool and early learning real estate assets in the Asia Pacific region. These real estate assets will be leased to MindChamps or its related fund entities, franchisees or licensees under long-term leases.
The fund will benefit from Keppe
