Temasek Holdings (Private) Limited (IPA: tə-MAH-sayk) is a Singaporean state-owned multinational investment firm. Incorporated on 25 June 1974, Temasek has a net portfolio of S$518 billion as of 31 March 2026. Headquartered at Orchard Road, Singapore, it has 13 offices in nine countries around the world, including in Beijing, Brussels, Hanoi, London, Mexico City, Mumbai, New York City, Paris, San Francisco, Shanghai, Shenzhen, and Washington D.C.
It is an active shareholder and investor, with four key structural trends guiding its long term portfolio construction—Digitisation, Sustainable Living, Future of Consumption, and Longer Lifespans. Temasek's portfolio covers a broad spectrum of sectors. Its key focus investment areas include Consumer, Media & Technology, Life Sciences & Agri-Food, and Non-Bank Financial Services.
Temasek has held overall corporate global credit ratings of "Aaa/AAA" by rating agencies Moody's and Standard & Poor's respectively since its inaugural credit ratings in 2004. It has also attained perfect quarterly scores on the Linaburg-Maduell Transparency Index, a measure of the openness of government-owned investment funds. Temasek is primarily anchored in Asia, with underlying country exposure of 27% Singapore, 26% China, 17% Americas, 12% Asia Pacific (excluding Singapore, China and India), 11% Europe, Middle East and Africa, and 7% India as at 31 March 2026.
While Temasek is largely considered as being a sovereign wealth fund (SWF), there are major differences as it invests mostly in equities, is the outright owner of many assets and companies, and pays taxes like other commercial investment firms.
Temasek's one-year total shareholder return (TSR) was 10.5%, with longer term 10-year and 20-year TSRs at 7.1% and 6.8% respectively, compounded annually. In addition to Temasek, the Government of Singapore also owns GIC Private Limited, a traditional SWF which manages about US$936 billion of assets as of 2026 and the compulsory pension programme Central Provident Fund (CPF) with assets of US$513 billion, giving a total publicly known AUM of approximately US$1.97 trillion.