Singapore state firm Temasek Holdings Pte Ltd has appointed Dilhan Pillay Sandrasegara as the chief executive officer of its wholly owned management and investment arm.
Pillay, 55, will succeed Lee Theng Kiat, 65, as the CEO of Temasek International Pte Ltd from 1 April. Lee will take over from Ho Ching as chairman at Temasek International on the same date, the Singapore firm said in a statement.
Pillay will be responsible for the role of Temasek as an active investor and shareholder. He will also oversee the firm’s operations, and the organisation of its talent and resources to deliver long-term returns, Temasek said.
Lee, who is also an executive director at Temasek Holdings, will oversee the firm’s development as a forward-looking institution. He will work closely with Pillay on commercial strategies and portfolio matters.
Pillay has held various leadership appointments in Temasek since 2010, including leading its Investment and Portfolio Management Groups, and overseeing the US and Americas market teams. He also initiated and led the Enterprise Development Group, to build new longer-term growth engines for the firm, Temasek said.
Temasek is one of the most active private equity-style investors in India. It had a standout year in 2018 as it invested around $1.5 billion across sectors via a series of deals. The firm's biggest bet last year was backing Schneider Electric to acquire Larsen & Toubro Ltd’s electrical and automation business. Earlier this year, it invested Rs 270 crore ($38 million) in Dr Agarwal’s Health Care Ltd.