Temasek Forms Advisory Panel for Europe Investments

Temasek Holdings, the $185 billion Singapore state investment fund, has formed an advisory panel of business leaders to help guide its investment activities in Europe.

The panel which includes Rolls-Royce Holdings PLC Chairman Ian Davis and former Allianz SE Chief Executive Michael Diekmann, will "help us understand the macroeconomic and social trends" in Europe, according to a spokesman for the fund.

It comes as sovereign-wealth funds from across the globe expand their reach and diversify their holdings.

Also on the panel are Patrick Cescau, chairman of InterContinental Hotels Group PLC; Franz Fehrenbach, chairman of the supervisory board of Robert Bosch GmbH; Gabriele Galateri di Genola, chairman of Assicurazioni Generali SpA; and Franz Humer, chairman of Diageo PLC.

The group will meet three or four times a year and "bring potential [investment] opportunities to us," the spokesman said. Temasek, which primarily makes direct investments, sees opportunities mainly in real estate, the consumer sector and financial services, he said.

Chairmanship of the panel will rotate at every meeting.

The group's first meeting took place in London in January. Mr. Davis, chairman for that meeting, said in a statement, "We exchanged views and insights on the European macroeconomic landscape, as well as sector trends and dynamics that could inform deliberations around potential investments. We look forward to our continued engagement with Temasek as it steps up its presence and investment activities in Europe."

Temasek set up the advisory panel almost two years after it opened a London office. The state fund invested more than $20 billion in the year ended March 31, according to its website.

Temasek declined to disclose how much of that was invested in Europe but said 8% of its overall portfolio exposure was in the region, a portion that is set to increase, according to the spokesman.

Tan Chong Lee, head of Europe at Temasek, said in a statement, "While Temasek remains anchored in Asia, we recognize the significance of Europe to our overall investment strategy and activities.

Temasek has a compounded annualized total shareholder return of 17% in U.S. dollar terms since its founding in 1974.

(END) Dow Jones Newswires

January 20, 2016 11:15 ET (16:15 GMT)

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