Temasek Forms Three Investment Units in Revamp

Singapore state-owned investment firm Temasek is revamping its structure by setting up three separate units to manage its multi-billion-dollar portfolio.

Temasek will set up three wholly-owned entities – Temasek Global Investments (TGI), Temasek Singapore (TSG), and Temasek Partnership Solutions (TPS) – to manage its S$434 billion ($338 billion) portfolio, according to a statement.

Effective 1 April 2026, TGI will focus on Global Direct Investments (GDI) which are established and emerging market leaders in digitization, sustainable living, future of consumption, and longer lifespans; TSG will focus on Singapore-based Temasek Portfolio Companies (TPS); and Temasek Partnership Solutions (TPS) will focus on managing allocation of capital to invest in funds, building strategic relationships with these funds and other investors while working with subsidiary Seviora Holdings to deepen relationships with partners.

Thereafter, investments will no longer be a part of Temasek International’s (TI) remit, though it will continue to house group and corporate functions.

Leadership Changes

The state-owned investment manager has also announced the following series of leadership changes:

  • Lee Theng Kiat will step down as chairman of TI.
  • Dilhan Pillay will be appointed chairman of the wholly-owned entities – TI, TGI, TSG, and TPS – while retaining his existing position as executive director and CEO of Temasek Holdings
  • Chia Song Hwee will be appointed co-CEO of TI, CEO of TGI and deputy chairman of TI, TSG, and TPS.
  • Nagi Hamiyeh, head, Europe, Middle East & Africa, will be concurrently appointed president of TGI.
  • Png Chin Yee, chief financial officer, will be concurrently appointed President of TSG.

The Temasek Holdings Board, together with Pillay, will continue to have oversight of the overall portfolio and group, and will guide the collective leadership and management of all entities, working as OneTemasek to deliver on its T2030 strategy.

«Our portfolio has evolved and grown significantly over the last two decades. As we continue our journey, these changes will enable Temasek to navigate and operate effectively, positioning it to be future-ready. We must remain steadfast in our commitment to do well, do right, and do good. By harnessing our collective strengths, we act today with tomorrow in mind, so every generation prospers,» said Temasek Holdings chairman Lim Boon Heng.