From The Times of India:
For years, Singapore’s Temasek Holdings has remained Asia’s investment dandy-feared, hated and applauded as it went about buying up stakes in dozens of companies including ICICI Bank, Apollo Hospitals and M&M in India. And now, this unequalled and unchallenged colossus with investments of $65 billion has come up against a Chinese challenge that promises to be giant in the making.
The baby-giant cast its first stone in US on Monday, announcing plans to pick $3 billion in Blackstone, the private equity firm with global assets worth $14 billion. This investment will give the government-managed Chinese company a direct access into the Indian industry as Blackstone has allocated $1 billion for investments in India. [Full Text]