Temasek sets up Americas advisory panel

Singapore’s sovereign investor has formed an advisory panel which includes former US treasury secretary and president of Warburg Pincus Timothy Geithner.

Singapore’s state investment company Temasek Holdings has launched its first advisory panel in the US comprised of prominent business leaders. They will provide Temasek with expert advice on issues relevant to its investment activities, it said in a statement.

The “Temasek Americas Advisory Panel” or “TAAP” includes Timothy Geithner, president of Warburg Pincus, who will serve as chairman; David Cote, chairman and CEO of Honeywell International; and Ellen Kullman, former chairman and CEO of DuPont.

The other members are Richard Levin, CEO of online education platform Coursera; Indra Nooyi, chairman and CEO of food and beverage giant PepsiCo; Ronald Sugar, former chairman and CEO of defence company Northrop Grumman Corporation; and Alberto Weisser, former chairman and CEO of agribusiness Bunge Limited.

“As Temasek increases our presence across the Americas, our TAAP members will provide us with the benefit of their experience and insights as we seek opportunities against the backdrop of an increasingly challenging global macro environment,” Dilhan Pillay Sandrasegara, president and head of Americas at Temasek said.

The advisory committee will work with Temasek’s European Advisory Panel, which was launched in January this year, to help shape its global investment strategies. Among its members are Ian Davis, chairman of Rolls-Royce and Michael Diekmann, former CEO of Allianz.

Temasek has over S$266 billion ($197 billion; €174 billion) of assets as of March 2015, up S$43 billion from the previous year. North America and Europe made up 17 percent of its overall portfolio, while Latin America accounted for 2 percent, according to its 2015 annual report. It has committed capital to Hony Capital Fund VIII, India Advantage Fund Series 4, FountainVest China Growth Capital Fund II, Madison Dearborn Capital Partners V and EQT VI, according to PEI Research & Analytics.

Its top three sectors for investments are consumer, life sciences & agriculture, and financial services. Its recent investments in the Americas include New York-based electronic dealing firm Virtu Financial, biopharmaceutical company Gilead Sciences and Virgin Mobile Latin America.

In April this year, Temasek reorganised its key management personnel to navigate “challenging times” and protect its portfolio. Senior executives Song Hwee Chia and Dilhan Pillay were appointed as co-presidents to work alongside current president Gregory Curl, as reported by Private Equity International.