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Temasek launches special-purpose vehicle

Astrea II aiming for broader base of investors

Published Wed, Apr 9, 2014 · 10:00 PM
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[SINGAPORE] Temasek Holdings is spinning off more of its investments into a special-purpose vehicle (SPV) to reach a broader base of investors in the longer term. Also in the works from the Singapore investment firm is a retail bond offering in the near future.

Temasek yesterday launched Astrea II, a co-investment vehicle with broadly diversified holdings in 36 private equity funds.

Temasek is the single largest investor in Astrea II, at 38 per cent; ARDIAN, formerly AXA Private Equity - a global private investment company and leading secondary fund manager - is one of the six co-investors in Astrea II.

The name of Temasek's latest SPV references that of its first, Astrea - through which it securitised its investments in 46 private equity (PE) funds in 2006. Astrea I bought Temasek's interests in the funds, then sold around US$810 million in equity and 15-year,…

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