Temasek's new investment platform to target local, mid-sized firms

Temasek's new investment platform to target local, mid-sized firms
Temasek's new investment platform to target local, mid-sized firms   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">SINGAPORE</span> – Singapore state investor Temasek Holdings has set up a new investment vehicle initially targeting local firms valued at $1 billion to $5 billion, as Singapore seeks to ramp up investments in fast-growing companies.</p> <p>With S$4.5 billion ($6.1 billion) of funds under management, 65 Equity Partners will mainly make equity investments in established firms with regional or global aspirations, both companies said in a joint statement on Wednesday.</p> <p>“The platform will also have flexibility to deploy funds into opportunities that may sit outside the core focus areas of Temasek, such as take-private situations or family business restructurings,” said Lee Theng Kiat, chairman of Temasek International, the wholly-owned management and investment arm of Temasek Holdings.</p> <p>65 Equity Partners, an independently managed and fully-owned investment platform of Temasek Holdings, will target deal sizes of between $100 million and $200 million, and expand across Southeast Asia, Europe and the United States after the initial phase.</p> <p>It will invest across industries such as logistics, technology, healthcare, consumer, industrial and business services.</p> <p>The new unit currently manages a joint S$1 billion fund with the Singapore government to develop regional companies, and a S$1.5 billion co-investment fund with the government to provide late-stage private financing for initial public offerings on the Singapore Exchange.</p> <p>Ranked among the biggest investors in the world, Temasek Holdings is anchored in Asia and is a major investor in companies including Singapore Airlines, <span class="caps">DBS</span> Group and Keppel Corp.</p> <p>Temasek Holdings also has funds offering venture capital to start-ups and invests in small and medium enterprises, among others.</p> <p>($1 = 0.7417 Singapore dollars)</p> <p/> </div>