Singapore’s Keppel Seeks KKR Comparison in Push to Divest (1)

Singapore’s Keppel Ltd. wants to benchmark itself against leading global asset managers, as it accelerates efforts to divest a significant portion of S$14.4 billion ($11 billion) non-core assets.

The company is planning to substantially trim those holdings by 2030, following wider losses from the segment and its attempt to be seen more like an asset manager.

Chief Executive Officer Loh Chin Hua pointed to companies including KKR & Co., Blackstone Inc. and BlackRock Inc., saying this could be the group of peers “that perhaps the market should look at.”

Keppel has a trailing 12-month price-to-earnings ratio of 17, ...