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Temasek Holdings Plans on Office in India

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The press release states, “Temasek Holdings (Temasek) is expanding its focus on India and will be opening an office in Mumbai, India. This move reflects Temasek’s optimism in the potential of the Indian market, as well as Temasek’s commitment to participating in and contributing to the growth and success of India, at a time when the Indian economy is at a point of inflexion.

Leading the team in India would be Mr Manish Kejriwal, who is joining Temasek as its Managing Director, India. Mr Kejriwal will be responsible for overseeing Temasek’s interests in India. Mr Kejriwal will be supported in India by Mr Ravi Krishnasamy, currently a Director of Investments at Temasek.

In India, Temasek is open to evaluating opportunities in multiple sectors and at different stages, but the focus will mainly be on making direct investments into companies with good growth potential. In addition, Temasek will work with the Temasek-Linked Companies (TLCs) to identify investment opportunities in India.

As an indication of Temasek’s interest in India, it has made a few investments in India recently. Temasek has invested a 5.2% stake in ICICI Bank, and has set up the US$100 million Merlion India Fund which aims to invest in promising mid-to-late stage Indian companies.

Mr. Kejriwal joins Temasek from McKinsey & Company, Inc. where he is a Partner. He is the hub leader for McKinsey’s corporate finance & strategy practice in India, and was responsible for all merger & acquisition engagements for both Indian and international companies looking at entering the Indian market. He is also the co-leader of McKinsey’s business process outsourcing & offshoring practice in India and is in the global leadership team of the private equity practice. Mr Kejriwal has previously been based in New York and Cleveland.”

Read more: Press Release

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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