Keppel Ltd: Part V – Transforming into a Global Asset Manager. Is Keppel’s Fund-Raising Strategy Sustainable in the Long Run?
20 January 2025
This report analyzes Keppel’s ambitious S$200 billion fund-raising strategy, questioning its sustainability. The report finds that Keppel lacks a strong core product. Its launching of numerous funds suggests a “land grab” approach rather than a strategic build. The report contrasts Keppel’s approach with successful asset managers like Blackstone, highlighting the shortcomings of Keppel’s model. Ultimately, the report expresses significant reservations about Keppel’s fund-raising strategy.