Temasek Subsidiary True Light Capital Raises $3 Billion for China Investments
Posted on 09/28/2023
True Light Capital Pte. Ltd. was formed in 2021. The asset manager invests alongside Temasek Holding in investment opportunities which have a nexus to or have a major business relationship with Greater China. True Light Capital is an independent, wholly-owned subsidiary of Temasek Holdings.
True Light Capital was around US$ 3 billion in assets under management, according to its website.
Capital Raise
True Light Capital raised US$ 3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital. The Singapore-based asset manager said in a statement the True Light Fund I secured capital from global investors including sovereign wealth funds, foundations, financial institutions, and family offices. The fund will invest alongside Temasek in opportunities related to Greater China, True Light said. It invests directly in private and public equity as well as indirectly through private equity and venture funds, it added.
China makes up 22% of the portfolio of Temasek Holdings, according to recent March 2023 data.
