Temasek unit to manage former Babcock S’pore trust

Kevin Lim

Singapore’s Global Investments Ltd, a trust previously managed by a unit of Australian investment bank Babcock & Brown, will now be managed by a fund management firm linked to state investor Temasek.

ST Asset Management, the Temasek unit, will replace Babcock & Brown Global Investments Management as manager

following approval by shareholders at an extraordinary meeting, Global Investments said in a filing.

Babcock & Brown has gone into administration after it became one of Australia’s high profile victims of the credit crisis.

Global Investments’ assets included aircraft leases and Australian residential and commercial mortgages.

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