According to media reports, Singapore's Global Industry Company (GIC) and Temasek Holdings are implementing significant changes to their partnership models with hedge funds, potentially impacting billions of dollars in capital allocation. Sources indicate that GIC is restructuring its external manager division, replacing its long-term head and hiring additional staff. Meanwhile, Temasek has begun engaging with a broader range of hedge funds to identify potential investment opportunities. GIC has long been a major capital provider in the global hedge fund sector, while Temasek has historically preferred deploying capital through its affiliated entities—such as Seviora and investment firms like Avanda Investment Management—rather than investing directly via external managers. GIC does not currently disclose its assets under management, but research platform Global SWF estimates its size at approximately $936 billion as of March 2025, with around 1.5% allocated to hedge funds. On the other hand, Temasek may increase its external investments through hedge funds. Insiders noted that Temasek executives have recently held discussions with multiple global hedge funds. Last year, Temasek invested in about ten hedge funds, including Citadel, founded by billionaire Ken Griffin. Starting in April, Temasek plans to consolidate its hedge fund allocations under its newly established Temasek Collaborative Investment Solutions unit. As of March 2025, approximately 23% of Temasek’s net portfolio was managed by external partners and fund managers.