Keppel achieves first closing of $400 million for Vietnam-focused real estate fund

December 09, 2020 | 17:11

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Keppel Capital Holdings Pte., Ltd. and Keppel Land Limited have launched Vietnam-focused Keppel Vietnam Fund, a Vietnam-focused real estate fund with a target fund size of $600 million.

Keppel Vietnam Fund on December 4 announced that it has achieved its first closing of $400 million, including co-investment commitment from a global institutional investor.

The fund, according to Keppel Land, seeks to invest alongside Keppel Land in real estate projects, including residential developments, commercial properties as well as mixed-use projects and townships in Vietnam, with a focus on Ho Chi Minh City and Hanoi.

keppel achieves first closing of 400 million for vietnam focused real estate fund

Celesta Rise, one of the latest projects invested by Keppel Land in Nha Be district of Ho Chi Minh City

Alpha Investment Partners Limited, the private fund management arm of Keppel Capital, will be the fund manager, while Keppel Land will be the development and property manager of the properties in the fund.

When fully leveraged and invested, the fund will potentially have assets under management of approximately $1 billion, Keppel Land said in its statement.

According to Christina Tan, CEO of Keppel Capital, the company was pleased to launch its inaugural Vietnam-focused real estate fund, which will allow Keppel Capital to expand into a new geography and strengthen its product offerings to global investors seeking quality real assets.

“The successful first closing of the fund even amid the COVID-19 pandemic demonstrates investors’ confidence in our ability to generate attractive risk-adjusted returns through investing in the growing real estate sector in Vietnam. By tapping into Vietnam’s sound economic and market fundamentals, as well as harnessing the collective strengths of Keppel Capital and Keppel Land, we are well-placed to capture compelling investment opportunities and create value for investors,” Tan said.

By Bich Ngoc

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