(Reuters) – Singaporean investment firm Temasek Holdings will invest up to A$300 million ($198.4 million) in Australian exchange-traded fund manager Betashares, the company said on Monday.
The funding is expected to fuel the expansion of Betashares’ offering in Australia and overseas, the statement said.
With this investment, Temasek will hold an undisclosed minority stake in Betashares, joining its employees and private equity firm TA Associates as shareholders, he added.
According to the latest data compiled by Betashares, the market capitalization of the Australian ETF industry reached A$177.5 billion in 2023, supported by net inflows of A$15 billion.
Betashares, one of the country’s largest ETF firms, has more than A$38 billion in assets under management and serves more than one million investors in Australia, according to its website.
“Temasek’s investment will help accelerate the next phase of our journey, both organically and through acquisitions and strategic investments,” said Betashares founder and CEO Alex Vynokur.
Temasek has A$382 billion ($282.36 billion) in assets under management as of March 31, 2023, and its portfolio includes companies such as Alibaba (NYSE:)), DBS Group (OTC:) and Tencent, according to Temasek’s website.
($1 = 1.5124 Australian dollars)
($1 = 1.3529 Singapore dollars)
