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Temasek Allocates $150 Million in Indian Pharma Company

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Singapore’s Temasek Holdings is investing 9.4 billion crore (US$ 151.4 million) in Mumbai-based Glenmark Pharmaceuticals Ltd. through its sovereign wealth enterprise Aranda Investments (Mauritius) Pte Ltd. Temasek is subscribing up to 10.8 million shares on a preferential basis for cash in the Indian drug manufacturer. Among sovereign wealth funds, Temasek is known for backing earlier stage biotech companies and making investments in India.

Other major institutional investor shareholders are HSBC Global Asset Management, Oppenheimer, Stichting Pensioenfonds ABP, Life Insurance Corporation of India, General Insurance Corporation of India and T. Rowe Price. Glenmark Pharmaceuticals has more than 20 subsidiaries and over 11,000 employees. In addition, the company has 14 manufacturing facilities in four countries.

Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said in a release, “We are pleased that one of the world’s most reputed financial institution Temasek Holdings is considering investment in the company.”

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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