Temasek Reports Record S$518 Billion Portfolio Value

Temasek Holdings reported a record net portfolio value of S$518 billion for the financial year ending March 31, 2026, an increase of S$49 billion over the previous year. The state-backed Singaporean investor achieved a 10.5% total shareholder return, supported by strong performance from Singapore-based holdings and major divestments, including an S$8.18 billion sale in Schneider Electric India and a S$6.6 billion sale of ST Telemedia Global Data Centres to KKR and Singtel.

Growth was partially offset by a stronger Singapore dollar and a 2% portfolio drawdown in March 2026. This decline followed the outbreak of war in Iran on February 28, which disrupted energy supply chains after the closure of the Strait of Hormuz.

Looking toward 2031, the firm will target artificial intelligence, core-plus infrastructure, and private credit as compelling opportunities, aiming for these areas to comprise 25% of its total portfolio. Temasek plans to raise its AI exposure from 6% to 15%, targeting semiconductors, cloud services, data centers, and foundation models. Additionally, it intends to increase private credit exposure from 2% to 5% via its Aranda Principal Strategies platform and core-plus infrastructure from 1% to 5%. To enhance its private market capabilities, Temasek integrated Pavilion Capital into its primary asset management platform, Seviora Holdings.