Singapore Sovereign Fund Founds Possible Hedge Fund Firm

Feb 10 2010 | 10:30am ET

Singapore’s sovereign wealth fund has established an investment firm that could become the largest hedge fund manager in the region.

Temasek Holdings’ Seatown Holdings is expected to have some US$3 billion in investment capital. The new firm—whose name is English for “Temasek”—will specialize in emerging markets funds and assets classes in which Temasek has not invested in the past. But Asian Investor reports that Seatown could be a massive hedge fund platform, the first ever set up within a sovereign fund.

The new firm is expected to employ a multi-strategy approach, according to AI. Bloomberg News also reports that the firm will be an absolute return shop.

Still, Temasek is remaining tight-lipped about the new firm, other than confirming that it exists, and a Reuters source is contradicting other reports.

“It is an investment company and it is not a hedge fund,” the source said.

Seatown reportedly already boasts a core staff, led by Charles Ong as CEO. Ong has been with Temasek for eight years, following a career that took him through Lazard Freres and Deutsche Bank. The new firm also features Nasser Ahmad, formerly of New York hedge fund DiMaio Ahmad Capital, as co-CEO. Margaret Lui, currently managing director of investments at Temasek, was named the new firm’s chief operating officer.

In addition to investing the city-state’s own assets, Seatown will eventually open its doors to Singapore’s citizens, allowing them to co-invest with the sovereign fund.

Seatown is Temasek’s second investment subsidiary. It already runs Fullerton Fund Management, which specializes in long-only investments but also invests in hedge funds and funds of hedge funds.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR