Apollo Funds Invest $1.5B in Keppel Offshore Energy Infrastructure
Apollo-managed funds and affiliates have agreed to invest $1.5 billion in Keppel Offshore Fund, LP, a private investment vehicle managed by Singapore-based Keppel Ltd. that will own a portfolio of offshore energy assets.
The investment marks one of the first investment-grade transactions of its kind in Southeast Asia and underscores growing institutional demand for energy infrastructure assets that support global energy security and long-term income generation.
Keppel, a global asset manager and operator headquartered in Singapore, oversees approximately S$95 billion in funds under management across infrastructure, real estate and connectivity strategies. The company will continue to manage the offshore energy portfolio following the transaction.
“Keppel has firmly established itself as one of the region’s premier asset managers and infrastructure operators, and we are pleased to support their efforts to address global energy security, leveraging our scaled permanent capital base and structuring expertise,” said Jamshid Ehsani, partner at Apollo.
Keppel Chief Executive Officer Loh Chin Hua said the partnership is expected to enhance the fund’s growth while supporting critical energy infrastructure.
“We believe long-term tailwinds in the market may offer our clients the opportunity for attractive risk-adjusted returns, and we look forward to working alongside Apollo to support the growth of the Fund as well as the energy security needs of markets around the world,” Loh said.
The investment builds on Apollo’s expanding capital solutions business. Since 2020, the firm has originated more than $100 billion in bespoke financing transactions for companies including Sony, Intel, bp, Broadcom, Air France-KLM and AB InBev.
SMBC Group entities are serving as debt adviser and placement agent to the Apollo funds, while Latham & Watkins, Milbank LLP and Clifford Chance are advising on the transaction.
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