| This year marks the 40th anniversary of Temasek, one of Singapore’s two sovereign wealth funds (SWFs), along with the Government Investment Corporation (GIC). Set up in 1974 as part of the newly independent city-state’s nation- building effort, Temasek has evolved from a sleepy holding company shepherding an initial portfolio of 35 inherited government-linked companies (GLCs) to a long-term, return-seeking investor with both wealth-management and development mandates.
Temasek is still a government holding company that acts as a shareholder on behalf of the Singaporean government. Today it pursues its developmental mandate by buying direct stakes mostly in Singaporean and Asian companies, and then reinvesting its proceeds from asset sales and dividend income into foreign assets, acting like a private equity fund...............................................Full Article: Source
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