Temasek Holdings has partnered with Singapore-based asset manager Dymon Asia Capital to invest in new hedge-fund managers and strategies.
Under the partnership, Dymon Asia has received an initial US$500 million (S$625 million) investment from Temasek to start a hedge fund seeding venture.
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Through this deal, Temasek will become a minority stakeholder in Dymon. The new venture will be headed by Dymon president Jay Luo and managing director Ben Freischmidt.
The Temasek- Dymon joint venture will make its first investment in SAC Capital’s Port Meadow Fund, which is expected to launch before the end of this quarter.
Port Meadow Fund is a global equity long-short hedge fund which will be led by Carl Vine, a former SAC Capital Advisors LP manager.
The partnership will enable Temasek to expand its investment and returns through a local company, and will allow Dymon to add to its traditional business of running macro funds by offering non-investment services.
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By GlobalDataThe capital will be used to seed new strategies and fund managers, and manage all non-investment functions to allow managers to focus on their trading activities.
Jay Luo president Dymon said: "We share a long-term vision of working with the best managers and believe our proposition to managers and investors is unique."
