This Research Note examines the recent strategic investment by Patrizia and Mitsui in Singapore-based Kaer.  We highlight the As-a-Service business model and the strategic investments targeting up to USD 350 million in capital deployment which aim to accelerate the transition to low-carbon cooling in Asia. Kaer Profile Established in 1993 in Singapore, Kaer designs, builds, and operates cooling systems for commercial and industrial buildings in Singapore, Malaysia, India, and Indonesia. Aiming to make Cooling as a Service (CaaS) the model of choice for the real estate industry, Kaer enables businesses to buy cooling on a pay-as-you-use basis to overcome significant capital investment and challenges associated with owning a cooling system. With over SGD $200 million of cooling assets under management, Kaer is serving over 20 million square feet of real estate space across Asia. Kaer Water and Kaer Air provide CaaS under 2 business models. Kaer assumes all financial and operational responsibility to deliver the […]