AEP Investment Management, the Singapore based real estate investment company, is to target data centre investments following the launch of a fund aimed at the sector.
The vehicle will be 50:50 co-managed with Singapore-based Keppel Telecommunications & Transportation, a subsidiary of marine, real estate and infrastructure conglomerate Keppel Corporation. It will invest in both developments and income-producing assets.
The partners have established a company named Securus Partners to manage the vehicle, which will invest using Shariah compliant structures.
AEP, which is backed by Saudi Arabia and UAE-based real estate and financial services firm Al Rajhi Holding Group, will assume further fund raising activities for investors keen to invest in Shariah-compliant vehicles.
The partners said the venture was set up to address a growing need among businesses in the Middle East, in particular, for data centre space – essentially reserve business space that is used for overflow situations or in case of emergency. The vehicle will, however, also make investments in Europe and Asia also.
The partners said further details of the fund will be released at a later date.