Temasek explains, may expand SeaTown role
As part of the release of its annual report, Singapore SWF Temasek Holdings has publicized further details of its new semi-autonomous investment arm SeaTown Holdings, reported as registered in February this year, and may expand the S$4 billion ($2.9 billion) vehicle to pursue more co-investments.
Simon Israel, Temasek executive director, emphasized that SeaTown is intended as an international investment company rather than a hedge fund, and Temasek's annual report describes it as "a co-investment platform for sophisticated investors in the medium term," with other reports suggesting that it will operate with institutional co-investors within three to five years. Temasek also indicated that SeaTown may open for retail investor participation in eight to ten years through bonds or funds, though Temasek itself already issues bonds. SeaTown is ostensibly a multi-strategy investor, and in practice has invested both in debt and in equities as a co-investor with Temasek, and with Temasek investee Hopu Investment Management on deals such as the joint $235 million equity investment in China Yurun Food Group in April.
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