Temasek to Invest Up to $198 Million in Australian ETF Manager Betashares
Singapore-based investment firm Temasek Holdings is set to inject up to A$300 million (equivalent to $198.4 million USD) into the Australian exchange-traded fund manager Betashares. This substantial funding is anticipated to drive the expansion of Betashares' offerings both in Australia and overseas. With this strategic investment, Temasek will acquire an undisclosed minority stake in Betashares, joining its existing shareholders, including its staff members and private equity firm TA Associates.
The market capitalization of the Australian ETF industry soared to A$177.5 billion in 2023, fueled by net inflows of A$15 billion. As one of Australia's largest ETF firms, Betashares manages over A$38 billion in assets and serves more than a million investors across Australia.
"The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments," said Alex Vynokur, Betashares' founder and CEO.
As of March 31, 2023, Temasek manages assets worth S$382 billion ($282.36 billion USD) and boasts a diverse portfolio, including high-profile companies such as Alibaba, DBS Group, and Tencent.
$1 = 1.5124 Australian dollars
$1 = 1.3529 Singapore dollars
