Temasek puts US$3b in Avanda's hedge fund-like vehicle
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TEMASEK Holdings put US$3 billion with a fund managed by Avanda Investment Management Pte, started last year by former GIC Pte senior executives.
The state investment firm invested with the Avanda Global Multi-Asset Master Fund, which is managed by the Singapore-based manager, Temasek said in its annual review on Thursday. Avanda was partly seeded with money from GIC, and was started by former managers including Sung Cheng Chih, Quah Wee Ghee and Ng Kok Song, a former chief investment officer of the sovereign wealth fund.
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