June 17 (Reuters) - Singapore-Based Investment Firm Temasek Holdings Tem.ul Will Invest up to a$300 Million ($198.4 Million) in Australian Exchange-Traded Fund Manager Betashares, the Company Said on Monday.
the Funding Is Expected to Drive the Expansion of Betashares' Offerings in Australia and Overseas, It Said in a Statement.
With the Investment, Temasek Will Hold an Undisclosed Minority Stake in Betashares, Joining Its Staff Members and Private Equity Firm Ta Associates as Shareholders, It Added.
The Australian ETF Industry's Market Capitalisation Reached a$177.5 Billion in 2023, Boosted by Net Inflows of a$15 Billion, According to the Latest Data Compiled by Betashares.
Betashares, One of the Country's Biggest ETF Firms, Manages Over a$38 Billion in Assets and Serves Over a Million Investors in Australia, According to Its Website.
"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 Said.
Temasek Manages Assets Worth S$382 Billion ($282.36 Billion) as of March 31, 2023, and Its Portfolio Includes Companies Like Alibaba 9988.hk, DBS Group Dbsm.si, and Tencent 0700.hk, Among Others, According to Temasek's Website.
($1 = 1.5124 Australian Dollars)
($1 = 1.3529 Singapore Dollars)
(Reporting by Rajasik Mukherjee; Editing by Varun H K)