Singapore Invest $5b in Private Equity and Infrastructure

Singapore Invest $5b in Private Equity and Infrastructure

The Monetary Authority of Singapore (MAS) announced today initiatives to enhance private markets financing channels, including a programme to place up to US$5 billion for management with private equity (PE) and infrastructure fund managers.

2   Mr Peter Ong, MAS Board Member and Chairman of Enterprise Singapore, highlighted the new initiatives at the Global Investor Summit of the Singapore FinTech Festival. These initiatives will support the growth of Asian enterprises and the infrastructure financing market.

3   The US$5 billion private markets programme (PMP) builds on MAS’ current external fund manager programme, which has helped to anchor global asset managers in the public markets space. Under the PMP, MAS will fund PE and infrastructure fund managers who are committed to either deepening their existing presence or establishing a significant presence in Singapore.

4   MAS also announced the introduction of a large-scale deal making platform, MATCH, that curates and matches promising next-generation ASEAN enterprises with private capital.  MATCH has already generated more than 17,000 matches between 380 participating investors and 840 enterprises.1 MAS will also work with the industry to establish private market funding platforms that connect growth companies with a wider investor network.

5   These initiatives are complemented by other efforts to grow the local talent pool while providing flexibility on the hiring of foreign specialists in the PE and venture capital (VC) industry. In addition, the introduction of the Venture Capital Investment Model Agreements (VIMA)2 for early stage VC transactions will enable deal and cost efficiencies through a set of standardised and easily accessible documents that investors and enterprises can use and adapt.

6   Jacqueline Loh, Deputy Managing Director, MAS said, “MAS has been working closely with the industry to position Singapore as the leading enterprise and infrastructure financing hub in the region. Private markets will be a key source of financing. The PMP will enhance our private markets ecosystem and strengthen the value proposition of Singapore’s asset management industry as a gateway for investors to tap the region’s growth opportunities.”

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About the Singapore FinTech Festival (www.fintechfestival.sg)
Singapore FinTech Festival (SFF) is the world’s largest FinTech festival and global platform for the FinTech community, drawing more than 30,000 participants last year which comprised of FinTech players, technopreneurs, policy makers, financial industry leaders, investors including private equity players and venture capitalists, and academics. The 2018 Festival will see participants from over 100 countries and host more than 160 global luminaries and 400 exhibitors, featuring highlights such as the FinTech Conference with a new AI in Finance Summit and Global Investor Summit, the FinTech Awards, Global FinTech Hackcelerator, Innovation Lab Crawl, Industry Networking and Workshops. The Festival is organised by the Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings. Festival Grand Sponsors include AMTD, Deloitte, GIC, Google Cloud and Prudential. Find out more at http://fintechfestival.sg.

1 See media release “Singapore FinTech Festival attracts US$12 billion of capital for ASEAN enterprises”, MAS, 22 October 2018.

2 Chief Justice Sandraseh Menon launched the VIMA, developed by the Singapore Academy of Law (SAL) and the Singapore Venture Capital and Private Equity Association (SVCA), on 23 October 2018. The VIMA can be downloaded free on the Singapore Law Watch and SVCA’s website.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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