image credit: betashares
On Monday, Temasek Holdings announced it will invest up to A$300 million ($198.4 million) in Betashares, an Australian exchange-traded fund manager.
Betashares stated that the money will expand its Australian and international offerings.
It said that Temasek will join its staff and private equity firm TA Associates as Betashares shareholders with an undisclosed minority stake.
According to the most recent data from Betashares, the Australian ETF industry’s market capitalization increased by A$15 billion in net inflows to reach A$177.5 billion in 2023.
Betashares, one of Australia’s largest ETF providers, manages over A$38 billion and services over a million customers, according to its website.
Betashares Founder and CEO Alex Vynokur stated Temasek’s investment will accelerate our progress organically and through acquisitions and strategic investments.
According to Temasek’s website, As of March 31, 2023, it manages S$382 billion ($282.36 billion) and invests in Alibaba (9988.HK), DBS Group (DBSM.SI), and Tencent (0700.HK).
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