Keppel Capital launches $147m Asia education sector fund
Keppel Capital, the asset management arm of Singapore-based Keppel Corporation, will launch an investment fund focused on education assets alongside Singapore-based preschool operator MindChamps.
The Keppel MindChamps Education Real Estate Fund will have a target size of S$200 million ($147 million) and invest in preschool and early learning real estate assets in the Asia Pacific region. Assets purchased through the fund will be managed by MindChamps or related entities under long-term leases.
MindChamps has co-sponsored several education-focused funds with Asian GPs this year, including a $200 million fund alongside Hong Kong-listed China First Capital Group targeting investments in China and a separate vehicle with Pavilion Capital, a private equity unit of Singapore’s Temasek Holdings.
The company claims to be the largest operator and franchisor of premium-rate preschool centers in Singapore. It has also established a footprint across Vietnam, Myanmar, Australia, the Philippines, the United Arab Emirates, and China.
“As we grow our unique education model globally, we have been preparing to connect both our education model - the software - with tangible property assets - the hardware,” said David Chiem, founder, CEO, and executive chairman of MindChamps, in a statement. “The partnership between MindChamps and Keppel Capital provides the perfect platform for launching this fund to the world.”
Keppel also manages the Alpha Data Centre Fund (ADCF), a PE fund focused on data center investments, and the property-focused vehicle Alpha Asia Macro Trends III. Both launched in 2016 with targets of $500 million and $1 billion, and reported first closes last year of $130 million and $280 million, respectively.
In addition, ADCF received a commitment of $500 million last year from the Canada Pension Plan Investment Board that is expected to bring the total fund size to $1 billion upon closing.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.