Temasek launches $3.3b investment platform for firms eyeing global expansion

Temasek has formed a wholly owned subsidiary to focus on equity and structured equity investments, starting with Singapore and steadily expanding across Southeast Asia, Europe, and the US.

Photo credit: Affinidi

Called 65 Equity Partners, the entity will have funds under management of S$4.5 billion (US$3.3 billion) and target deals between US$100 million and US$200 million.

It will principally invest in established companies with regional or global aspirations that have market values between US$1 billion and US$5 billion. Among the sectors that the fund will focus on include consumer, industrial and business services, logistics, healthcare, and technology.

In Singapore, the new subsidiary will work with other funds based in the city-state, such as Heliconia Capital Management, Tower Capital Asia, and Novo Tellus Capital Partners. Together, they will help large local enterprises grow as they pursue regional expansion and transformation strategies.

65 Equity Partners will be managed by a team led by CEO Tan Chong Lee, who is also president of Temasek International. It will expand this core team by building out offices in Europe and the US, in addition to its headquarters in Singapore.

“65 Equity Partners aims to be the partner of choice for promising companies looking to accelerate growth, reorganize their capital structure, execute mergers and acquisitions, or provide liquidity to their shareholders,” Lee said.

The entity also manages Local Enterprise Fund @ 65, a joint US$742 million fund with the Singapore Government, as well as Anchor Fund @ 65, a US$1.11 billion co-investment fund announced in September.

Currency converted from SG dollar to US dollar: US$1 = S$1.35.