Temasek's Fullerton Fund Management puts together private equity team

SINGAPORE – Temasek holdings unit Fullerton Fund Management is building up a new private equity team, which will take the Asia-based investment specialist’s capabilities beyond its existing focus on equities, fixed income, multi-asset and alternatives.

In December, Tan Huck Khim, who was formerly with Credit Suisse’s customised fund investment group as a partner on the global investment committee, joined as head of private equity. He is responsible for driving the firm’s private equity strategies, managing its private equity portfolios, and developing investment solutions for clients.

On Jan 7, Kenneth Chia will join as vice-president of the private equity team from his previous job at AIA Investment Management, where he was senior manager in the external manager strategies and alternative investments team.

The addition of a private equity team is meant to “complement our existing range of strategies and solutions for clients”, the company said in response to The Business Times’ query.

It added: “We are looking to build this business methodically in phases and the hires represent the first stage of constructing a meaningful private equity business. For the start, fund of funds will be the focus of the new team as we seek to build out the team.”

Fullerton’s chief investment officer Patrick Yeo said in a statement on Wednesday (Jan 2) that “the addition of a private equity team ensures the firm can extend its comprehensive range of investment solutions to address our clients’ long-term needs”.

He said: “Fullerton is aware of the need to ensure our investment capabilities remain competitive and Huck Khim’s appointment represents a significant enhancement of our investment proposition. Our dedicated private equity capability effectively complements our existing suite of investment strategies.”

Fullerton also announced on Wednesday the appointment of Mark Yuen as its new chief business development officer. He will join on Jan 8.

Mr Yuen was formerly director and head of institutional sales and client management at Eastspring Investments, which is the Asian asset management business of Prudential. He has also previously worked at Robeco Hong Kong, Credit Agricole Asset Management and the Monetary Authority of Singapore (MAS).

Mr Yuen will lead efforts to widen Fullerton’s target markets and client segments, as well as expand the development and distribution of investment solutions. He will report to Fullerton’s chief executive Jenny Sofian.

Ms Sofian said: “It is an opportune moment for us to make these senior appointments, as we accelerate to bring the business to the next level. Huck Khim and Mark are high-calibre individuals with substantial industry experience.”

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