(Reuters) – Singapore-based funding agency Temasek Holdings will make investments up to A$300 million ($198.4 million) in Australian exchange-traded fund supervisor Betashares, the corporate stated on Monday.
The funding is predicted to drive the enlargement of Betashares’ choices in Australia and abroad, it stated in a press release.
With the funding, Temasek will maintain an undisclosed minority stake in Betashares, becoming a member of its workers members and personal fairness agency TA Associates as shareholders, it added.
The Australian ETF business’s market capitalisation reached A$177.5 billion in 2023, boosted by internet inflows of A$15 billion, in response to the newest information compiled by Betashares.
Betashares, one of many nation’s greatest ETF corporations, manages over A$38 billion in belongings and serves over one million buyers in Australia, in response to its web site.
“The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments,” Betashares Founder and CEO Alex Vynokur stated.
Temasek manages belongings price S$382 billion ($282.36 billion) as of March 31, 2023, and its portfolio consists of corporations like Alibaba (NYSE:), DBS Group (OTC:), and Tencent, amongst others, in response to Temasek’s web site.
($1 = 1.5124 Australian {dollars})
($1 = 1.3529 Singapore {dollars})