DBS in Sovereign Wealth Fund Tie-Up for Private Banking Product

DBS Group Holdings Ltd. (DBS) will announce a tie-up with a sovereign wealth fund for a private equity product that will be available to its private banking clients, said Su Shan Tan, head of wealth management at the bank.

She did not give the name of the state fund. Temasek Holdings Pte, Singapore’s state-owned investment company, is the bank’s biggest shareholder with a 27 percent stake, according to data compiled by Bloomberg.

To contact the reporter on this story: Sanat Vallikappen in Singapore at vallikappen@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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