Temasek to Invest $198 Million in Australian ETF Manager Betashares
Singapore-based investment firm Temasek Holdings is set to invest up to A$300 million ($198.4 million) in Australian exchange-traded fund manager Betashares. This significant funding is expected to drive the expansion of Betashares' offerings in both Australia and overseas.
With this investment, Temasek will acquire an undisclosed minority stake in Betashares, joining the ranks of its staff members and private equity firm TA Associates as shareholders. This move underscores the ongoing growth and attractiveness of the Australian ETF industry, which saw its market capitalisation soar to A$177.5 billion in 2023, bolstered by net inflows of A$15 billion.
Betashares stands out as a key player in the market, managing over A$38 billion in assets and serving over a million investors across Australia.
Betashares Founder and CEO Alex Vynokur highlighted the importance of this investment, stating, "The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments."
On the other hand, Temasek, which manages a robust portfolio worth S$382 billion ($282.36 billion) as of March 31, 2023, boasts holdings in notable companies such as Alibaba, DBS Group, and Tencent.
This strategic investment by Temasek reflects its continuous efforts to diversify and expand its portfolio in lucrative markets worldwide.
($1 = 1.5124 Australian dollars)
($1 = 1.3529 Singapore dollars)
