, Singapore

Keppel Capital and MindChamps to raise $200m for education real estate fund

It will invest in preschool and early learning real estate assets in the Asia Pacific.

Keppel Corporation’s asset management arm Keppel Capital Ventures signed a non-binding memorandum of understanding (MOU) with MindChamps PreSchool (MindChamps) to establish a new private fund called Keppel MindChamps Education Real Estate Fund which will have an initial target fund size of $200m.

According to an announcement, Keppel Capital and MindChamps will each hold a 50% stake in the fund. It will seek to invest in preschool and early learning real estate assets in the Asia Pacific region that will be leased to MindChamps.

“The fund will benefit from Keppel Capital's investment capabilities in the real estate sector, asset management expertise and in-depth knowledge of the region, as well as MindChamp's track record as the largest operator and franchisor of premium preschool centres in Singapore,” the two said.

MindChamps currently has 15 company-owned-company-operated centres in Singapore and Australia, as well as 46 franchisee-owned-franchisee-operated centres in Singapore, Australia, Abu Dhabi, Dubai, the Philippines, and Vietnam.

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