Keppel is very close to a $2bn final close for its Data Centre Fund III, according to Infrastructure Investor. The fundraising milestone underscores strong investor appetite for digital infrastructure assets.

In the first half of 2026, Keppel's infrastructure segment delivered a net profit of S$538m, marking a 55% increase year-on-year. The performance highlights the resilience of essential infrastructure investments amid evolving market conditions.

The fund's impending close follows a series of large-scale infrastructure raises, including Partners Group's $15bn direct programme and $5.5bn secondaries vehicle, as well as ECP's $8bn target. Limited partners continue to allocate capital despite broader portfolio underallocation pressures.

Keppel's data centre strategy benefits from secular tailwinds driven by AI adoption and cloud expansion, positioning the fund to capture growing demand for capacity across key Asia-Pacific markets.