A wholly-owned personal funds platform has been established by Singapore’s state-owned investment company Temasek, according to a media release from December 6.
The platform’s initial portfolio will amount to around S$ 10 billion ($ 7.46 billion ), consisting of direct investments and credit funds.  ,
According to the transfer, the investment will be managed by a group of around 15 record investment professionals across offices in New York, London, and Singapore, who have been transferred from Temasek’s credit &, cross solutions team. Nicolas Debetencourt, the CEO of Temasek, will be in charge of the world platform. He has been in charge of funds & and cross solutions at Temasek since 2016.
Temasek has invested in credit cards for more than ten years. Temasek established a credit &, cross solutions team in 2016 to develop its direct and indirect investments in order to exploit a wider range of opportunities in the personal credit market.
The new system will be in contrast to Seviora Group, Temasek property management company, which includes SeaTown Holdings International, which offers personal credit options in Asia.
When FinanceAsia reached out for more info, a Temasek director said that at this point the company had nothing to add to the media transfer.  ,
The decision comes after BlackRock made the deal to purchase HPS Investment Partners, a worldwide record manager based in New York, for$ 12 billion earlier in the month. In the world, personal funds is rapidly expanding, with Asia Pacific not a case in point.  ,
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