Richard Ong’s fund teams with Temasek in US oil firm acquisition
The newly launched fund founded by former Founding Partner of Hopu Investment Management Richard Ong has teamed with Singapore’s Temasek Holdings to take a 70% controlling stake in Frac Tech Services, a US-focused oil exploratory and extraction firm. The deal’s value was not disclosed.
This is the first investment made from Ong's maiden fund, called RRJ Capital, and comes weeks after the vehicle was slated to complete its first close. In February, reports surfaced that RRJ aimed to hold...
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