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Singapore’s Temasek launches S$4.5 billion asset management unit, report says

The new wholly-owned asset manager, named 65 Equity Partners, currently has S$4.5 billion (US$3.34 billion) of assets under management
By Goh Thean Eu   
October 29, 2021

Singapore state investment company Temasek Holdings Pte Ltd has set up a new asset management unit to invest in local and foreign companies, and to support businesses that are willing to expand into the city state, Tan Chong Lee, who leads the unit, says in an interview with Bloomberg.

Tan is also president of Temasek International, Temasek’s management and investment unit. He says the new unit, called 65 Equity Partners, currently has S$4.5 billion (US$3.34 billion) of assets under management and plans to raise money from outside investors.

It “creates a new global investor with a broad mandate to support businesses that are willing to expand into Singapore and join the local stock exchange”, according to the interview published on October 28.

“It will help regional companies expand internationally, while US and European firms hoping to break into Asia will also be a key target.”

Tan says 65 Equity Partners will have teams in London covering Europe and teams in either San Francisco or New York covering the US. “By the middle of next year, we will have more than 40 staff on this platform.”