The unconnected moves could have major implications for the money available to the world’s biggest hedge funds. GIC is a significant source of capital for the sector. Temasek has traditionally made relatively few investments with such outside managers directly, preferring to deploy money via subsidiaries like Seviora Holdings Pte Ltd and investees like Avanda Investment Management Pte Ltd.
(Feb 4): Singapore’s two largest state-owned investors are making major changes to the way they work with hedge funds, in moves that could affect billions of dollars in allocations.
Sovereign wealth fund GIC Pte Ltd is in the midst of a shake-up of its external managers department, replacing its veteran head and hiring additional staff, according to people familiar with the matter. Temasek Holdings Pte Ltd has been contacting a wider pool of hedge funds for potential investments, people familiar said.
