Temasek, a Singapore-based investment firm, has unveiled a new co-investment vehicle Astrea II with broadly diversified holdings in 36 private equity funds.
Astrea II has been launched as part of the firm’s efforts to develop co-investment platforms that can be made available to a wider base of investors, including retail investors.
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Temasek is the single largest investor in Astrea II at 38%. The new vehicle includes a portfolio of good quality private equity funds, balanced across vintages, geographies and sectors.
In 2006, Temasek has launched Astrea I, a co-investment platform with a diversified and balanced portfolio of selected Temasek interests in high quality private equity funds.
Additionally, a private investment firm ARDIAN, will serve as one of the six co-investors in Astrea II and has been selected as general partner and manager of Astrea II.
Dilhan Pillay Sandrasegara, head of enterprise development group in Temasek, said, "Temasek continues to be an active investor in high quality private equity or PE funds globally. These investments have created value for us in the form of direct returns, as well as opportunities for us to make further direct investments alongside the PE fund managers."
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By GlobalDataLee Theng Kiat, president of Temasek, said: "Platforms such as Astrea I and Astrea II are part of our phased approach to developing co-investment products. They help us test market interest and fine tune our thinking and product positioning for eventual participation by retail investors."
