Singapore’s Temasek establishes UK presence
Temasek Holdings has set up a unit in the UK that will focus on investments in Europe. It is the Singaporean sovereign wealth fund’s 10th overseas office or affiliate.
John Cryan, Temasek's president of Europe and co-head of the portfolio and strategy group, will be one of two directors of the new unit.
The fund's exposure to Europe and North America increased to 11% of its portfolio for the year ended March 2012, compared to 8% the previous year.
Recent European activity includes the purchase of a 10% stake in UK-based derivative and bond data provider Markit for approximately $500 million and the acquisition of a minority interest in Spanish oil and gas company Repsol for $1 billion.
Temasek also has an on-the-ground presence in Beijing, Shanghai, Hong Kong, Ho Chi Minh City, Hanoi, Mumbai, Chennai, Mexico City and Sao Paolo.
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