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Woori, Singapore Sovereign Fund Plan Joint Hedge Fund Venture
November 3, 2009
Korea’s Woori Investment & Securities Co. and Singapore’s sovereign-wealth fund will launch a hedge fund joint-venture.
Woori and Temasek Holdongs will launched the fund with about US$50 million by the end of the year, Bloomberg News and the Korea Economic Daily report. Talks between the two companies are still in their initial stages and it remains unclear when the fund will be launched.
It is also unclear whether Temasek will take part in the fund, Bloomberg reports. The two firms hope to double the fund’s size to US$100 million next year.
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