Asian fund eyes Turkey

Asian fund eyes Turkey

ISTANBUL - Hürriyet Daily News
Asian fund eyes Turkey

Singapore based Temasek Holding investment fund is currently scoping the Turkish market for investment opportunities. REUTERS photo

The world’s ninth largest investment fund Singapore based Temasek Holding is examining Turkey’s different sectors for investment opportunities, according to daily Sabah.

“We are looking for opportunities, we are going to come,” said Nagi Hamiye, who is in charge of Global Industrial Investments for the firm. He said they had formed a special team for Turkey and that they saw the country as one of their priority markets.

“We are currently looking closely at Turkey and will start direct investments in a few years. Taking into account Turkey’s rate of development and our experience, we have decided to invest in the retail, banking, infrastructure and logistical sectors,” said Hamiye, adding that Temasek was particularly interested in the banking sector.

Previously interested in Turkey’s Garanti Bank

“We are a group that makes long-term investments. We look at the right sort of agreements. We are definitely going to invest,” he said.

Temasek had previously been interested in acquiring Garanti Bank and had added it to the list of the five companies under consideration, before losing out to General Electric (GE). According to Sabah, Temasek is now considering Turkey’s Alternatifbank. Temasek had also previously won the tender for the Mersin Port in southern Turkey, along with Turkey’s Akfen.

Temasek holds a $198 billion portfolio and is the world’s ninth largest investment fund. It has 34 different funds under its umbrella, and 75 percent of its investments are in Asian countries, of which 34 percent are in the finance sector.