Singapore’s GIC, Temasek Revamp Dealings With Hedge Funds

Singapore’s two largest state-owned investors are making major changes to the way they work with hedge funds, in moves that could affect billions of dollars in allocations.

Sovereign wealth fund GIC Pte is in the midst of change in its external managers department, replacing its veteran head and hiring additional staff, according to people familiar with the matter. Temasek Holdings Pte has been contacting a wider pool of hedge funds for potential investments, people familiar said.