Keppel Infrastructure Fund (KIF), the flagship private investment vehicle of global asset manager Keppel, has completed its first acquisition, securing a 100% stake in UK-based subsea cable solutions provider Global Marine Group (GMG). The deal was made in partnership with co-investors and was finalized on March 10, 2025.
Global Marine Group, a leader in subsea cable installation and maintenance, operates a fleet of six vessels that provide essential services for the global subsea fibre optic network. The acquisition is a strategic move for KIF, marking its initial investment since its rebranding from Keppel Asia Infrastructure Fund II.
Keppel Infrastructure Fund specializes in deploying growth capital into operating businesses and standalone infrastructure projects. The fund employs value-added investment strategies to optimize its portfolio, focusing on sectors with high potential for growth, including energy transition, the circular economy, and digital infrastructure.
The subsea cable market is expected to experience rapid growth, with maintenance and installation services projected to expand at a compound annual growth rate (CAGR) of 45% from 2023 to 2029. This growth is driven by increasing global demand for connectivity and a limited supply of specialized vessels for subsea cable operations.
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