NEW YORK--(BUSINESS WIRE)--SecondMarket, the largest secondary market for illiquid assets, announced today that it has raised US$15 million in Series B financing from the Li Ka Shing Foundation (“LKSF”), a charitable foundation founded by world-renowned entrepreneur Li Ka-shing, and Dunearn Investments (Mauritius) Pte. Ltd., a wholly-owned subsidiary of Singapore-based investment company Temasek Holdings (Pte) Ltd. (“Temasek”).

LKSF and Temasek each invested US$7.5 million in SecondMarket. Proceeds from the investment will be used to further scale the SecondMarket platform and infrastructure in preparation for the company’s upcoming expansion into the Asian markets.

“We identified a tremendous opportunity for SecondMarket in various Asian markets and as we grow our business, add new asset classes and expand internationally, there are no better partners to support our efforts than Mr. Li and Temasek,” said SecondMarket CEO Barry Silbert. “We are delighted that these world-class investors are helping SecondMarket become the global platform for trading illiquid assets.”

Mr. Li is known as one of the world’s savviest investors. As Chairman of global conglomerates Hutchison Whampoa Limited (HWL) and Cheung Kong (Holdings) Limited, Mr. Li has built a global business across 54 countries with more than 220,000 employees. His business empire spans a number of industries, including ports, telecommunications, real estate, hotels, energy, infrastructure and retail. He has also been an active investor in some of the hottest venture-backed companies in the world, such as Facebook, Skype and Spotify.

“We are happy to have the opportunity to invest in a fast-growing, creative business like SecondMarket,” said Frank Sixt, a director of LKSF and President of the Li Ka Shing (Canada) Foundation. “We believe that SecondMarket’s model of transparency, centralization and independence represents an innovative development and potentially significant opportunity in financial markets, and we expect the company to continue to prosper.”

Temasek owns a diversified portfolio valued at more than US$119 billion, concentrated principally in Singapore, Asia and the emerging economies. Its portfolio covers a broad spectrum of industries including financial services; telecommunications & media; energy & resources, and technology.

“SecondMarket is an innovative and competitively-positioned business that fits with Temasek’s investment theme of supporting emerging champions,” said Mr. Ang Peng Huat, Managing Director, Investment, Temasek Holdings.

With this new round of financing, SecondMarket will broaden the scope of its businesses and explore new opportunities for near-term expansion into Asia. Currently with offices in New York and Silicon Valley, SecondMarket has established itself as a leading secondary market for multiple asset classes, including private company stock, limited partnership interests, auction-rate securities, bankruptcy claims, residential and commercial mortgage-backed securities, collateralized debt obligations, warrants/restricted stock in public companies and whole loans. In total, over US$25 billion in illiquid assets are available for sale over SecondMarket.

“It’s truly a privilege to work with the Li Ka Shing Foundation and Temasek,” Silbert added. “Their experience and expertise will help us continue a high level of sustainable growth and profitability worldwide.”

About SecondMarket

Founded in 2004, New York-based SecondMarket is the largest secondary market for illiquid assets, including private company stock, limited partnership interests, auction-rate securities, bankruptcy claims, collateralized debt obligations, residential and commercial mortgage-backed securities, warrants/restricted stock and whole loans. SecondMarket, which conducted approximately US$2 billion in transactions in 2009, has more than 8,000 participants including global financial institutions, hedge funds, private equity firms, mutual funds, corporations and other institutional and accredited investors that collectively manage over US$1 trillion in assets. SecondMarket’s shareholders include FirstMark Capital, New Enterprise Associates (NEA), and SVB Financial Group (NASDAQ: SIVB). SecondMarket is a registered broker-dealer (Member FINRA, MSRB and SIPC). For further information, please visit: www.SecondMarket.com

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About Li Ka Shing Foundation

For almost three decades, the Li Ka Shing Foundation has sought to enhance the impact of its philanthropy through two strategic objectives: to nurture a culture of giving and to foster creativity, constructive engagement, and sustainability through supporting capacity empowerment focused projects. The Li Ka Shing Foundation has supported grants, sponsorships, and commitments of over US$1.4 billion. The Foundation makes selective investment in quality projects both in Hong Kong and overseas from time to time to increase capital return for its charitable objectives. For further information, please visit: www.lksf.org

About Temasek Holdings

Incorporated in 1974, Temasek Holdings is an Asia investment company headquartered in Singapore. Supported by 12 affiliates and offices in Asia and Latin America, Temasek owns a diversified S$172 billion (US$119 billion) portfolio as of July 31, 2009, concentrated principally in Singapore, Asia and the emerging economies.

Temasek’s investment themes center on Transforming Economies, Growing Middle Class, Deepening Comparative Advantages and Emerging Champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications & media; transportation & logistics; real estate; infrastructure, industrial & engineering; energy & resources; life sciences, consumer & lifestyle; and technology. Total shareholder return for Temasek since its inception in 1974 has been a healthy 16% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's, respectively. For further information, please visit: www.temasek.com.sg