Two fund managers tapped for new $1.5b Anchor Fund tranche to boost Singapore’s IPO pipeline
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The appointments are aimed at attracting more listings in a bid to revive the Singapore stock market.
ST PHOTO: AZMI ATHNI
SINGAPORE – Two fund managers have been appointed for a new tranche of government-backed fund aimed at attracting more listings in the latest move to revive the Singapore stock market.
The Ministry of Trade and Industry and Temasek have appointed Fullerton Fund Management and 65 Equity Partners as fund managers for the second $1.5 billion tranche of the Anchor Fund, according to a joint statement on March 27.
The latter, 65 Equity Partners, is Temasek’s wholly owned investment platform.
The second tranche, known as Anchor Fund 2, will invest in growth companies that are ready to list in Singapore while also providing capital to late-stage firms preparing for eventual public listings.
Fullerton will focus on public markets, participating in initial public offerings (IPOs) as a cornerstone investor, while 65 Equity Partners will work with private companies to help them scale and get ready for listing.
The initiative is part of broader efforts to strengthen Singapore’s equities market, alongside measures introduced by the Monetary Authority of Singapore’s Equities Market Review Group.
It was first announced by Prime Minister Lawrence Wong during Budget 2026. In his speech, PM Wong said that in addition to deep and vibrant markets, a strong pipeline of high-quality companies that choose to build, grow and anchor themselves in Singapore is also crucial to strengthening the enterprise ecosystem here.
The first $1.5 billion tranche of the Anchor Fund was launched in 2022 to attract and anchor high-quality listings in Singapore.
Anchor Fund 1 has deployed funds into a portfolio of high-growth companies, including data and cybersecurity services firm AvePoint, health technology company Ultragreen.ai, immersive entertainment company Neon and used-car trading platform Carsome.
Since then, the Singapore Exchange (SGX) has seen gains, including higher IPO activity, including the listings of AvePoint and Ultragreen.ai, and increased trading volumes.
Retail investors were net buyers of Singapore stocks in March, purchasing $638 million worth of shares as at March 24, led by financials, real estate investment trusts and consumer cyclical stocks, according to SGX.
In February, average daily trading value rose 45 per cent year on year to $2.1 billion, the highest level since 2020, according to bourse data.
