Singapore continues key investment team reshuffle

Temasek has appointed two new presidents and said it will combine its sector and market investment team, barely a week after GIC announced a raft of promotions.

Temasek has reorganised its key management, just after Singapore’s Government Investment Corporation did the same.

The changes will help the Singaporean investment holding company navigate “challenging times” and protect its portfolio, Temasek said.

As part of the restructuring, it has appointed senior executives Song Hwee Chia and Dilhan Pillay as presidents, who will both join current president Gregory Curl. Fidah Alsagoff, Michael Buchanan, Chin Yee Png and Juliet Teo have also been appointed as senior managing directors. The appointments take effect on 1 May.

Temasek will also combine its sector and market investment teams under a single Investment Group.

Temasek’s announcement comes less than a week after GIC promoted Yong Cheen Choo to chief investment officer for private equity. Six other leadership appointments at GIC, which include a new deputy group president and new CIOs for other asset classes, will take effect on 1 June, as reported by sister publication Private Equity International.

Temasek has previously used the secondaries market to dispose of stakes, transferring 100 percent of its interests in Equistone Partners Europe and PAI Partners funds to an Ardian-managed vehicle in 2014.

Temasek has over S$266 billion ($197 billion; €174 billion) of assets, according to PEI Research & Analytics.