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 Granite Asia has secured more than  US$350 million  in the first close of its new Pan-Asia private credit fund, attracting commitments from major Southeast Asian state investors including  Temasek ,  Khazanah Nasional , and the  Indonesia Investment Authority (INA) . The strategy, known as  Libra Hybrid , is targeting a total fund size of  US$500 million . In addition to the three sovereign anchors, the fund drew capital from global institutional investors, sovereign funds, and Granite Asia’s own partners. Temasek invested through its private credit platform  Aranda Principal Strategies , the firm said. Granite Asia added that roughly  30% of the committed capital  has already been deployed across  six transactions . Private Credit Growth Across Asia The launch comes as Asia’s private credit market continues accelerating. According to a report by the Alternative Investment Management Association and several advisory firms, the...

Key Takeaways Fullerton is winding down its China hedge fund and private fund units, cutting most local staff. The move comes amid Temasek’s broader restructuring and weak progress by foreign managers in China’s hedge fund market. High competition from domestic firms and limited foreign brand recognition have hindered growth. Fullerton’s two Chinese private fund units together manage  less than 1.5 billion yuan . Several global firms, including BEA Union and Eastspring, have also scaled back in China in recent years. Temasek is consolidating subsidiaries Seviora and Pavilion Capital under a new organisational structure starting April 1. Despite restructuring, Fullerton says China remains an important market. Fullerton Fund Management Co, owned by Singapore’s Temasek Holdings, is winding down its China private fund operations — including its eight-year-old onshore hedge fund arm — amid increasingly difficult conditions for global asset managers in the market, according to people fam...

Singapore’s sovereign wealth fund Temasek Holdings  is weighing a major internal restructuring, potentially its most sweeping in decades, as it seeks to  improve portfolio performance  and  operational efficiency , Bloomberg reported, citing people familiar with the matter. Proposed 3-Pillar Restructure: Domestic, Global, and Fund Units The plan under consideration would reorganize Temasek’s vast operations into  three distinct investment arms : Domestic Unit  — Overseeing key Singapore-linked investments such as  Singapore Airlines Ltd  and other local champions. Global Direct Investments Unit  — Handling foreign investments across sectors and geographies. Fund Investments Unit  — Managing external fund exposures, including stakes via  Seviora Group , the holding company for Temasek-linked asset managers. This proposed overhaul is designed to help  senior executives focus  more clearly on their respective domains, improvi...

  Key Highlights: Net Income:  S$287 million for 1H 2025, down  13%  YoY Revenue:  S$1.04 billion, down  24%  YoY but slightly above analyst estimates Capital Recycled:  S$584 million so far this year, mostly from divestments China Exposure:  Currently 26% of funds under management (FUM); target  15-20%  by 2028 Details: CapitaLand Investment Ltd, backed by  Temasek Holdings , reported a sharp drop in first-half profit as it struggled with slow asset divestments amid  global uncertainty , muted deal-making, and weakness in key markets like China. The decline was attributed to: Loss of contributions from divested assets Absence of a one-off tax write-back recorded in 2024 Weaker fund performance and lower transaction fees Funds under management fell slightly to  S$116 billion  at end-1H 2025 from  S$117 billion  in Q1. China Strategy & Challenges: Rents fell across all sectors in China Plans to ...

Temasek Holdings , Singapore’s state investment firm, has successfully raised  5.5 billion Chinese renminbi (US$768 million)  through a well-received  offshore bond offering  on July 23. The sale marks its return to the offshore RMB bond market since August 2024. Deal Breakdown 5-year bond:  RMB 1.5B at  1.85% yield 10-year bond:  RMB 2.0B at  2.05% yield 30-year bond:  RMB 2.0B at  2.55% yield 📉 Initial guidance for these bonds ranged from  2.3% to 3.05% , and final pricing came in significantly tighter—indicating  strong investor demand . Structure & Credit Issuer:  Temasek Financial (I) Ltd , under Temasek’s  US$25B global MTN program Guarantee:  Unconditional and irrevocable  by Temasek Ratings:  Aaa (Moody’s)  and  AAA (S&P) Use of Proceeds Funds raised will go toward  Temasek’s regular business and investment activities , supporting its global portfolio strategy. Strategic ...

Superscrypt, a blockchain venture capital fund seeded by Singapore’s Temasek Holdings , is working to raise up to $100 million for its second investment fund, insiders revealed. Temasek and New York-based fintech firm Republic are expected to be anchor investors and general partners in the fund, though final amounts may shift. This comes after Temasek’s write-down of a $275 million investment in the failed crypto exchange FTX last year. Following that, Temasek refrained from direct crypto exchange investments due to regulatory concerns. However, blockchain investment momentum is resurging, with Superscrypt focusing on early-stage Web3 and blockchain applications .

Moody’s Ratings highlighted Temasek Holdings of Singapore and Saudi Arabia’s Public Investment Fund (PIF) as the top performers among 11 government-owned investment holding companies (IHCs), citing their strong intrinsic credit metrics , excellent liquidity , and diversified investment portfolios . These qualities contribute to their standalone credit strength without the need for extraordinary government support. Moody’s also noted Khazanah Nasional Bhd (A3 stable) of Malaysia as having strong intrinsic credit quality , supported by stable earnings from its key investee companies with leading market positions. Since adopting an active investment strategy in 2004, Khazanah has grown its net asset value at a compound annual growth rate of 5%, while maintaining prudent financial policies, including a leverage target of 30-35%. However, Khazanah, along with four other IHCs, was flagged for weak liquidity , having insufficient internal cash sources to meet cash needs over the next ...