Latham Advises Apollo on US$1.6 Billion Joint Venture with Keppel

Latham & Watkins has advised Apollo-managed funds and affiliates on its US$1.6 billion investment into a joint venture with Keppel Ltd.’s (Keppel) Keppel Offshore Fund, LP, that will hold a portfolio of offshore energy assets. The transaction is rated investment grade and represents one of the first of its kind in Southeast Asia, reflecting growing global demand for innovative private capital solutions.

Keppel, a portfolio company of Singapore’s sovereign wealth fund Temasek and one of Singapore’s largest asset managers and operators, oversees S$95 billion in funds under management in infrastructure, real estate, and connectivity sectors, including critical infrastructure spanning power generation, water treatment, and waste management across Singapore and broader Asia.

The Latham team was led by Singapore corporate partner James Clayton-Payne and Hong Kong counsel Edward Tang, with Singapore associate Elisabeth Ong and Hong Kong associates Heidi Lui and Nikki Wong. Advice on structured finance matters was provided by Hong Kong partner Michael Hardy and Chicago counsel Joyce Shin, with Hong Kong associate Karen Wong; on funds matters by London partner James McCrory, with associate Jonathan Phay; on project finance matters by Singapore counsel Rob Thompson, with Tokyo associate Edward Lee; on tax matters by New York partner Bora Bozkurt, with associate Michael Yu; and on general advisory matters by New York partner Gary Boss and Frankfurt partner Christina Mann.