SINGAPORE, Sept 28 Reuters Singapore state investment firm Temasek39;s TEM.UL wholly owned unit True Light Capital said on Thursday it raised 3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital.

The Singaporebased asset manager said in a statement the True Light Fund I secured capital from global investors including sovereign wealth funds, foundations, financial institutions, and family offices.

The closing of the fund indicates that True Light can now focus on investing the capital.

It comes at a time when China has been losing its shine for global investors, weighed down by the nation39;s faltering economic recovery and tensions with the U.S. over trade, technology and relations with Taiwan.

True Light is positive about China39;s longterm fundamentals and outlook, and we continue to see attractive investment opportunities aligned with the four longterm structural trends of digitisation, longer lifespans, sustainable living and future of consumption, said the asset manager39;s CEO, Yeo Chee Kian.

The fund will invest alongside Temasek in opportunities related to Greater China, True Light said. It invests directly in private and public equity as well as indirectly through private equity and venture funds, it added.

China makes up 22 of the portfolio of Temasek, which is ranked among the top 10 investors in the world with net portfolio value of S382 billion 278.61 billion as at March 2023, according to its website….