Astrea III Pte. Ltd. is the Issuer in the Astrea III transaction. The company was incorporated in Singapore in 2015, and through two Asset-Owning Companies, owns the underlying investments in 34 Private Equity Funds.

Board of Directors

The Board currently has seven members.

Dr TEH Kok Peng


Dr Teh Kok Peng was the President of GIC Special Investments Private Limited, the private equity arm of GIC Private Limited ("GIC"). Prior to this, he was concurrently Deputy Managing Director of the MAS and Deputy Managing Director of GIC.

Dr Teh serves on the boards of several companies, including OCBC Bank, Sembcorp Industries Ltd, Fullerton Health Corporation and Lu International. He is also a Member of the Board of Trustees of National University of Singapore and The Trilateral Commission.

He holds a First Class Honours in Economics from La Trobe University, Melbourne, and Doctorate in Economics at Nuffield College, Oxford University, England. He attended the Advanced Management Program at the Harvard Business School in 1989.

Ms Margaret LUI-CHAN


Ms Margaret Lui-Chan is Chief Executive Officer of Azalea Investment Management Pte. Ltd. Prior to joining Azalea, she was Chief Operating Officer ("COO") of Pavilion Capital Pte. Ltd. and SeaTown Holdings Pte. Ltd. She was responsible for the start-up operations of both of these investment management companies, which are wholly-owned by Temasek.

Prior to the COO roles, Ms Lui-Chan was with Temasek since 1985 in various investment, portfolio management, corporate finance and restructuring roles. Her last appointment at Temasek was Senior Managing Director.

She currently sits on the board of Sembcorp Industries Limited and chairs the Marine Services Supervisory Committee of PSA International. She also serves on the Board of Trustees and Finance Committee of the Singapore Institute of Technology and heads its investment committee. Ms Lui-Chan is also a member of the Singapore Exchange's Listing Advisory Committee.

Ms Lui-Chan holds a Bachelor of Accountancy degree from the National University of Singapore. She attended the Advanced Management Programme at Wharton School of the University of Pennsylvania.

Mr Adrian CHAN Pengee


Mr Adrian Chan Pengee is Head of the Corporate Department and a Senior Partner at Lee & Lee. He sits on the Legal Service Commission, serves on the board of the Accounting and Corporate Regulatory Authority and chairs its Panel at the Institute of Corporate Law.

He is the Chairman of Nobel Design Holdings Ltd and also serves on the boards of several other listed companies, such as Yoma Strategic Holdings Ltd, Ascendas Funds Management (S) Ltd, Global Investments Ltd and Hong Fok Corporation Ltd. He is also on the Catalist Advisory Panel and served as the First Vice-Chairman of the Singapore Institute of Directors. He is a member of the Pro-Enterprise Panel and is Chairman of the Corporate Practice Committee of the Law Society of Singapore.

Mr Chan holds a Bachelor of Laws from the National University of Singapore.



Mr Kunna Chinniah was the Managing Director/Global Co-Head of Portfolio, Strategy & Risk Group with GIC Special Investments Private Limited, the private equity arm of GIC. He has also held various positions with GIC Special Investments in the North American, European and Asian regions and between 1997 to 2008, was responsible for private equity investments in Asia.

His present appointments include being a director of Changi Airport International, Keppel Infrastructure Fund Management and some companies in India. He is also a member of the Hindu Endowments Board.

Mr Chinniah is a Chartered Financial Analyst and holds a Bachelor's Degree in Electrical Engineering from the National University of Singapore and a Master of Business Administration from the University of California, Berkeley.

Mr KAN Shik Lum


Mr Kan Shik Lum was with DBS Bank Ltd. for 33 years, spending most of his tenure in corporate finance related areas. He helped to build DBS Bank Ltd.'s Capital Markets franchise in Singapore and Hong Kong.

Mr Kan was a member of the working team supporting the Capital Markets Committee which was formed by the MAS in 2008. He also served as the inaugural Chairman of the Corporate Finance Standing Committee of the Association of Banks in Singapore. He was also a member of the SGX Disciplinary Panel. Currently, he is a member of the Capital Markets & Financial Advisory Services Examination Board and serves as an independent director on the board of Mapletree Commercial Trust.

Mr Kan holds a Masters of Arts degree in Economics from Queen's University, Canada.

Mr WANG Piau Voon


Mr Wang Piau Voon is the Co-Chief Investment Officer of Noah Holdings (Hong Kong) Ltd. and is responsible for its private market investments. Prior to this, he was a Partner with Adams Street Partners where he was involved in formulating the firm's private equity fund investment strategy for Asia and was a member of its Primary Investment Committee.

Prior to joining Adams Street, he was a Manager in the Global Corporate Finance Division of Arthur Andersen LLP, Investment Manager at Nikko Capital Singapore and Investment Officer at Indosuez Asset Management Singapore.

Mr Wang is a member of the Singapore CFA Institute and was a founding executive member of the Limited Partners Association of China. He is a Chartered Financial Analyst and holds a Bachelor of Accountancy from Nanyang Technological University.

Mr WONG Heng Tew


Mr Wong Heng Tew was with Temasek for 27 years and is currently an Advisory Director with Temasek International Advisors.

His responsibilities at Temasek included investments (direct, funds, listed and private equity), divestments, mergers and acquisitions, restructuring of companies, and corporate governance. He was also Managing Director (Investments) and Temasek's Chief Representative in Vietnam.

He holds directorships in local and overseas companies such as Heliconia Capital Management, NTUC Fairprice, Mercatus Co-operative, and ASEAN Bintulu Fertilizer.

Mr Wong holds a Bachelor of Engineering degree from the University of Singapore and has attended the Program for Management Development at Harvard Business School.