Keppel Ltd has secured a $125m commitment from the Asian Infrastructure Investment Bank (AIIB) for its private credit strategy according to a report by Bloomberg, marking a further move by development finance institutions into the asset class across Asia.
AIIB has reportedly committed $75m to Keppel Private Credit Fund III and up to a further $50m for co-investment opportunities. Keppel said its third private credit fund has already deployed around $260m across sectors including infrastructure, renewables, data centres, and social infrastructure in the region.
The commitment increases the Keppel Private Credit Fund III’s funds under management to $561m, and is AIIB’s first investment under a partnership agreement signed in June of last year.
The partnership is intended to mobilise up to $1.5bn for sustainable infrastructure projects across the APAC region, primarily those originated and financed through Keppel’s private market platforms.
