Temasek teams up with Dymon for hedge fund foray

13 May 2014   Category: News, Asia, Global, Singapore   By Daniel Shane

Temasek Holdings, the Singaporean sovereign wealth fund with around US$173.3 billion in AUM, is to jointly invest in hedge funds alongside local asset management firm Dymon Asia Capital.

In a statement, Dymon said that it had received an initial commitment worth $500 million from Temasek.

The joint venture, in which Temasek will take a minority stake, will make its first investment in SAC Capital’s Port Meadow Fund, which is expected to launch before the end of this quarter.

Dymon president Jay Luo and managing director Ben Freischmidt will be responsible for leading the new venture.

“We are very excited to establish this relationship with Temasek,” Mr. Luo said in a statement. “We share a long-term vision of working with the best managers and believe our proposition to managers and investors is unique.”

Temasek, alongside private equity fund RRJ, last month agreed to acquire a 1.3 billion euro (US$1.79 billion) stake in ING’s Europe and Japan insurance division.