Yvette Choo

The Australian sovereign wealth fund's exposure to private equity grew 520% year-over-year.

The Australian sovereign wealth fund committed A$6.4bn to nine managers in the year to 30 June 2009. Capital invested in the asset class has jumped to A$1.24bn from A$2m the previous year.

Rajiv Nakani will head the Kuwaiti government-backed firm’s alternative asset management arm. He replaces Shailesh Dash, who resigned two weeks earlier.

Rajiv Nakani will lead the Kuwaiti government-backed firm’s alternative asset management arm.

Despite the increased risks posed by investment in the financial services sector, recent deals show the crisis has failed to dampen private equity appetite for deals in this space. Yvette Choo reports.

The firm has invested an additional $20 million in Novita to take control of the company's core business. The investment is the firm’s last deal from the W500bn Vogo Fund.

In addition to his private equity duties, Melvin Teo will also succeed Teresa Lin as the Singapore-based bank’s China head.

Temasek Holdings, in which Singapore’s finance ministry is the sole stakeholder, also booked a net profit of S$6bn, a threefold decrease from last year.

The sovereign fund, whose portfolio recently recouped some of the value it had lost in the past fiscal year, has not made clear how its private equity investment strategy may shift.

Part of the US-based venture firm’s three-member India investment team, they will remain with Battery until Fund VIII is invested.