Keppel Corp to consolidate asset management businesses, says no job losses

Keppel Corp to consolidate asset management businesses, says no job losses

SINGAPORE - Singapore's Keppel Corp Ltd will consolidate its interests in four asset management businesses under one subsidiary, saying the move will help expand its capital platform.

The restructuring would not change the unitholdings in the property trusts or investments in the funds, it said in a statement. The businesses currently manage $26 billion of assets.

The consolidation would include the managers of Keppel Infrastructure Trust, Keppel DC REIT, Keppel REIT and Alpha Investment Partners.

There will be no job losses from the restructuring, the company said in an email to Reuters, adding: "Each business vehicle will continue to retain its key management and employees to ensure business continuity."

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