Argyle 'to manage $62m pool from Temasek unit'

SINGAPORE • A unit of Temasek Holdings has given a $62 million pool of investments to Argyle Street Management, in the second such allocation by the firm to the Hong Kong asset manager, according to people familiar with the matter.

Mainboard-listed TIH Ltd, the private equity firm owned by Argyle, will manage the investment, which includes stakes in Whiterock Medical, a locally based distributor of medical instruments, and Australian coal operations company Carbon Energy, the people said, requesting anonymity because the information is private.

Republic Technologies, a subsidiary of Temasek, gave TIH $130 million in October 2014, one of the people said. One of the main positions in that pool included an investment in Mitsui Life Insurance, the Japanese insurer that has since been acquired by Nippon Life Insurance.

TIH no longer holds the stake in Mitsui Life, the person said.

TIH owns 55 per cent of both pools, making it the controlling shareholder, while Republic Technologies owns the rest, according to the person.

Hong Kong-based Argyle manages US$823 million (S$1.12 billion) in assets and Temasek oversaw a portfolio of $266 billion as at the end of March 2015 based on its latest annual report.

Spokesmen at Temasek, Argyle and TIH declined to comment.

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A version of this article appeared in the print edition of The Straits Times on May 05, 2016, with the headline 'Argyle 'to manage $62m pool from Temasek unit''. Print Edition | Subscribe