Temasek unit to manage former Babcock S’pore trust

November 25, 2009
Singapore Democrats

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Kevin Lim
Reuters

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.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSIN53169620091125