The investment fund behind Keppel Data Centers has acquired $1.1 billion from investors, including a Beijing-based investment bank, which will support the growth of Keppel’s data centers in Singapore and around the world.

The Asian Infrastructure Investment Bank (AIIB) contributed US$100 million to the Keppel Data Center Fund (KDC Fund II), a fund that closed with an increase of US$1.1 billion.

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

Keppel Capital Holdings says the fund is designed to target strategic investments in the data center market in Asia-Pacific and Europe. The group says the fund has attracted many different investment firms, including financial institutions, insurance funds, pension funds and sovereign wealth funds.

AIIB General Manager, Banking Department (Region 1), Dongik Lee, says the world is experiencing a “mega digitalization trend” that is reshaping business operations and global markets.

“This trend has been accelerated by the COVID-19 pandemic, further underscoring the importance of data centers as critical components of the digital ecosystem and attractive investment targets, as identified by industry strategy. of the AIIB’s digital infrastructure.”

“Our partnership with KDC Fund II and Alpha will foster the development and improvement of hard digital infrastructure to bridge the digital divide by investing primarily in colocation data centers that primarily serve emerging Asia.”

The KDC Fund II will also “operate” Keppel Data Centers to develop, operate and maintain data centers, as well as investment opportunities in greenfield and brownfield data center assets.

Alpha Investment Partners CEO Alvin Mah says data centers underpin the digital economy. This economy is essential to modern life as we know it.

“We are delighted to welcome Asian Infrastructure Investment Bank as an investor and look forward to strengthening our partnership through the Keppel Data Center Fund II, which seizes opportunities arising from the growing demand for quality data centers.” , notes Mah.

“By working with Keppel Data Centers, we are able to leverage the Keppel Group’s expertise in data center operational excellence, sustainable technology and energy efficiency to develop better and more efficient data centers. which is a growing imperative for data center operators. This will allow us to position our portfolio above others to provide a wider range of services to our clients and more attractive returns to our investors. »

Keppel Capital reported S$37 billion in assets under management at the end of 2020. The company invests in data center assets, infrastructure and real estate in “key global markets”.