Temasek Sets Up New Investment Firm

SINGAPORE (Reuters) – Singapore state investor Temasek Holdings confirmed on Wednesday that it is setting up a new global investment firm called Seatown, which will be headed by its chief strategist Charles Ong.

Reuters reported earlier on Wednesday that Temasek is in the process of setting up a new multi-billion dollar investment firm that will adopt a multi-strategy approach.

Temasek gave no details on the size of the fund or strategy.

Financial website AsiaInvestor said Seatown will have $3 billion in assets. (Reporting by Saeed Azhar and Kevin Lim; Editing by Neil Chatterjee)