TIH was managed by Transpac Capital Pte Ltd ("TPC") (the former manager of TIH), which was set up in 1989 through the amalgamation of two Asian venture capital pioneers Techno-Ventures Hong Kong Limited and Transtech Venture Management Pte Ltd. Techno-Ventures Hong Kong Limited was set up by Dr Christopher Leong and Dr Victor Fung in 1985 while Transtech Venture Management Pte Ltd was established by NatSteel Limited and DBS Bank in 1986.
In 1993, TPC was invited by the Singapore government to consider setting up an investment vehicle for individuals who wish to invest a part of their pension funds into private equity. Thus, TIH was set up as a listed fund operating like a limited partnership. Special dispensation was obtained for TIH's listing on the Singapore Stock Exchange at its IPO in 1994 as it was a new company without an operating history.
As at June 2014, the TPC team was successfully internalized by TIH and operates under the name TIH Investment Management Pte. Ltd. ("TIHIM").
Through the Internalization Exercise, TIH terminated its management agreement with TPC, which provides investment management services to TIH on an external advisory basis. Instead, TIH acquired the personnel and capabilities of TPC, and maintains the infrastructure in-house via the newly set up and wholly-owned subsidiary, TIHIM.
Moving forward, TIHIM will continue to strengthen its core investment management business and work with various strategic partners to procure mandates for the management of third party funds.
Argyle Street Management Limited ("ASM") is a Hong Kong-based hedge fund with approximately US$1 billion in AUM, and holds a majority equity stake in TIH.
Through close collaboration between TIH and ASM, the two companies have co-invested in a broad spectrum of investment opportunities with a predominantly Asian coverage. TIH and ASM also leverage on their complementary capabilities and resources including sourcing networks, and structuring and execution expertise.