In addition, Loh sees “very little overlap” between both portfolios, noting that the Aermont portfolio will be a “strong addition” to Keppel’s current focus in Europe, which is mainly on renewables and data centre assets. “While real estate is an area that Keppel is very familiar with, we have not had a significant presence in this asset class outside of the Asia Pacific (Apac),” he says.
Keppel Corp’s proposed acquisition of European real estate manager, Aermont Capital, marks yet another pivotal step in the former’s transformation to become a global asset manager and operator.
“The acquisition of Aermont is a significant step forward in Keppel’s ambition to be a global asset manager and operator. Aermont will be Keppel’s European real estate platform. This will give us an immediate and strong foothold in Europe, significantly expanding our presence beyond Asia Pacific, and also bolster Keppel’s value proposition to global limited partners (LPs),” says Keppel CEO Loh Chin Hua at a briefing on Nov 29. “Keppel will also be able to widen our network of blue-chip LPs leveraging Aermont’s longstanding relationships with its [over 50] global clients.” Most of Aermont’s LPs are new to Keppel. They include public pension funds, sovereign wealth funds and endowments and foundations from Europe, North America, Asia and the Middle East.
