Dymon Makes Private Equity Move, Backed By Temasek

Oct 29 2012 | 1:45pm ET

Hedge fund Dymon Asia Capital is expanding into private equity with the help of Singapore's sovereign-wealth fund.

Dymon plans to raise S$300 million (US$246 million) for its Dymon Asia Private Equity, the firm's managing partner, Keith Tan, told clients last month. One-third of that money will come from Heliconia Capital Management, a subsidiary of Temasek Holdings.

In the e-mail to clients, obtained by Reuters, Tan wrote that the new fund will invest in both private and listed companies, focusing on small- and medium-sized businesses with revenues of between S$25 million and S$500 million.

Dymon currently has US$2.5 billion in hedge fund assets.

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