Singapore's TIH buys $46m portfolio from Temasek unit

TIH will take a 55% stake in the portfolio, while Temasek's Republic Technologies will retain the remaining 45%. According to a statement, the transaction will be financed by a combination of cash and shares in a TIH subsidiary.

"With the increasingly volatile capital markets and uncertain global economic outlook, we are on the lookout for attractive investment opportunities in Asia," TIH chairman Kin Chan said. "We will also explore special situation investment opportunities with listed and non-listed entities to create value and deliver mutually rewarding returns to all our stakeholders."

The acquisition includes interests in Singaporean healthcare equipment developer WhiteRock Medical, Australian gas company Carbon Energy and PE funds managed by the International Finance Corporation (IFC) and Australia's Pacific Road Capital. The IFC's Aloe Environment Fund II invests in renewable energy, waste recycling and emissions control, while the Pacific Road Resources Fund II targets mining-related assets.

Founded in 1994, TIH invests in a broad range of sectors including healthcare, technology, communications, manufacturing, chemicals, food and other consumer products. It maintains a strong Asia focus with a further emphasis on special situations deals in Southeast Asia and Greater China. The firm claims about $1 billion in assets under management across seven funds.

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• Topics
• Southeast Asia
• Portfolio management
• Secondaries
• Singapore
• healthcare
• Commodities
• Temasek Holdings