Tembusu Partners to launch Chinese funds totalling over S$200M
Singapore-based Tembusu Partners said on Thursday (21 March) that it will launch several investment funds totalling at least 1 billion yuan (S$201 million) in a move to boost its presence in China.
The announcement comes after Tembusu received the first Qualified Foreign Limited Partner (QFLP) status for its foreign fund management company in the Guizhou province.
Tembusu’s 80:20 joint venture with a Guizhou state-owned enterprise secured the QFLP licence, which will let investors enjoy an ‘express lane’ for regulatory approval and taxation without the issue of foreign currency convertibility, according to the company’s statement.
The funds will invest in technology, infrastructure, healthcare, tourism and other projects in China. Through the funds, the portfolio companies will be eligible for financial incentive schemes from the Chinese government.
Tembusu also announced the appointment of Lim Ming Yan as chairman of its China Advisory Board. Lim, who retired in late 2018 as president and chief executive of CapitaLand, brings with him a wealth of experience in capital markets as well as strong networks in China, the company said.
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