Alpha Investment Partners (Alpha), a private fund management arm of Keppel Capital Holdings (Keppel Capital), has been awarded a $360 million separate account mandate from Dutch pension fund PGGM.
The Alpha Asia Separate Account includes a top-up option of up to $320 million, which would bring the aggregate commitment to $680 million if the top-up option were fully exercised.
The fund will focus on core-plus opportunities predominantly in commercial real estate in key cities in Japan and China, as well as in Singapore.
SEE: Keppel asset management unit acquires 3 commercial buildings in Seoul for $510 mil
Alvin Mah, CEO of Alpha, says the fund is pleased to extender its partnership with PGGM which spans over 15 years.
“The new investment mandate bears testimony to the confidence that institutional investors have in Alpha’s capabilities in delivering sound returns for our investors,” he says.
Shares in Keppel Corporation closed 2 cents or 0.38% lower at $5.32 on March 31.
