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Temasek Holdings Net Portfolio Value Reaches S$ 308 Billion

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Singapore’s Temasek Holdings revealed in a new report that they generated a record net portfolio value of S$ 308 billion, and a net cash position for the financial year that ended on March 31, 2018. The annual return for that period was 12.19%. Temasek’s total assets including debt reached US$ 375 billion.

Investments in the Americas and Europe almost form a quarter of Temasek’s investments, behind China at 26% of the portfolio and Singapore at 27%. In addition, the United States was a key beneficiary of new investments for the fiscal year ended March 2018. Temasek also revealed that since 2002, in the aggregate, the entity’s unlisted assets have generated better returns than its listed investments. For the reported fiscal year, Temasek made US$ 22 billion in investments and US$ 12 billion in divestment. Some of Temasek’s larger divestments for the reported year are its positions in Dufry and Gaztransport & Technigaz. Furthermore, Temasek partially divested Celltrion Inc and Celltrion Healthcare, Industrial and Commercial Bank of China, Danamon and Burger King Brazil, while continuing to retain significant exposures in each of them.

Temasek is also pursuing investments in the synthetic biology sub-industry, making bets in firms like Perfect Day and Impossible Foods.

Temasek is betting on six trends when approaching investments.

These are:
1. Longer Lifespans
2. Rising Affluence
3. Sustainable Living
4. Smarter Systems
5. Sharing Economy
6. More Connected World

PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BlackRock and Microsoft Eye Opportunities in Retirement Space

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By getting closer to the consumer via mobile apps, New York-based BlackRock Inc. is keen on gaining market share in the U.S. retail retirement market space. BlackRock had acquired FutureAdvisor, a technology platform, while making a large investment in Envestnet. BlackRock is now partnering with Microsoft Corporation to explore creating a retirement platform.

This partnership could be developing a new platform to analyze savings and investing habits – then offering app services as lead-generation services. According to a corporate news release, BlackRock plans to offer on the platform its “investment products that it will design and manage.”

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