In the first quarter, Keppel added $400 million of funds under management (FUM), with another $2 billion of limited partner (LP) commitments across private funds to be finalised in the next few months. Year-to-date Keppel has announced $385 million of asset monetisation and completed $347 million of monetisations.
Legacy rigs are in demand, with higher day rates for the completed rigs which are chartered out, according to Keppel’s management in a media briefing on its 1QFY2026 (for the three months to end-March) business updates.
The briefing on April 23 also noted that since the Iran War started, spark spreads in the infrastructure segment have seen a $30 rise for the shorter 1–3 year contracts; as a guide, Keppel gets less than 10% of its liquified natural gas (LNG) from Qatar, with most of it being piped gas. In addition, i12 Katong was sold at a slight loss; Keppel submitted an application for extra data centre power under for the Infocomm Media Development Authority’s Data Centre Call for Application (DC-CFA2) to allocate 200MW to operators who can demonstrate efficiency and sustainability; and Keppel has contingencies in place should the M1 transaction not be approved by regulators.
