Temasek is the biggest US holdings, based on filings, include Dell Technologies, PayPal Holdings and Gilead Sciences.
Tuesday 30, April 2019
(Bloomberg) --Singapore’s Temasek Holdings, a $200 billion state investor, is gearing up for more deals in the US.
John Vaske, Temasek Holdings’ Head of Americas, said that the company is underrepresented in the world’s biggest economy with about 15 per cent of its holdings in that market and is comfortable increasing that to more than a fifth.
“From a broad investor mindset perspective, we want to have more representation in the US, we see plenty of opportunities each and every week and we see that trend continuing,” Vaske said.
The approach to the US will follow the sectors and themes that drive Temasek’s investment strategy in telecommunications, media as well as technology, agriculture, tech-enabled consumer businesses and financial services, Temasek said.
Vaske said that anything where technology is driving disruptive change or evolution is definitively something we want to be part of as an organisation, declining to say how quickly the state-owned investment firm will scale up its holdings in the country.
Temasek, which was founded in 1974, had SGD $308 billion ($226 billion) in assets under management as of March 2018, based on the latest figures provided by the company.
The firm has delivered a compounded annualised total shareholder return since inception of 15 per cent, in Singapore dollar terms. China now accounts for about a quarter of Temasek’s holdings, while Singapore is slightly ahead as its biggest investment destination.
The company is also cognisant it will be acquiring more following a long run of economic expansion in the US, where stocks also rose above their record high at the start of the week, even after the International Monetary Fund (IMF) cut its outlook for global growth to the lowest since the financial crisis a decade ago earlier this month.