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Temasek adds stakes in Robinhood, other consumer-focused companies

Temasek adds stakes in Robinhood, other consumer-focused companies
© Reuters. FILE PHOTO: A Temasek logo is seen at the annual Temasek Review in Singapore July 7, 2016. REUTERS/Edgar Su/File Photo

By David Randall

NEW YORK (Reuters) – Singapore state investor Temasek Holdings added new positions in a number of consumer-focused companies during the quarter that ended Dec. 31, including ride-hailing and food delivery company Grab Holdings Ltd, brokerage firm Robinhood Markets Inc (NASDAQ:HOOD) and fashion company Rent the Runway Inc, according to securities filings released Monday.

The fund, which had a value of $278.81 billion as of March, also added a position in restaurant payment company Toast Inc and sports betting company Draft Kings Inc.

At the same time, the fund sold all its shares in Uber Technologies (NYSE:UBER) Inc, Coinbase (NASDAQ:COIN) Global Inc and Tencent Music Entertainment Group (NYSE:TME).

The fund is working with its portfolio companies to help them become more green as it focuses more on sustainability, the firm’s chief sustainability officer said at the Reuters Next conference in December. [L1N2SN0R9]

Source: Investing.com

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