Keppel Corp sets ‘ambitious’ interim AUM target of $100 bil by end-2026, embarks on major reorganisation

- Keppel Corp announced its next phase of Vision 2030 plans to transform into a global alternative asset manager with deep operating capabilities.

- The group structure will be simplified into three platforms - fund management, investment, and operating platforms - to form one integrated business focused on sustainable investments and solutions.

- Keppel aims to scale its assets under management (AUM) to $200 billion by 2030, with an interim target of $100 billion by end-2026.

- The company will continue its asset monetisation programme and aims to reach a cumulative $10 billion to $12 billion asset monetisation target by the end of 2026.

- Proceeds from the asset monetisation programme will be invested in new growth engines, leveraging Keppel's asset-light model, and used to reward shareholders.

- The reorganisation is expected to translate into annual savings of $60 million to $70 million by 2026 through centralising and optimising support functions.

- The new operating model will be reflected in how the company reports on its financial performance, starting from the 1HFY2023 financial results, with additional disclosures to help the market better understand and value the company.