Temasek Holdings, a sovereign wealth fund of the Government of Singapore specializing in growth capital acquires a 21.7% stake in Li & Fung's logistics business LF Logistics for $300m. Li & Fung said that as a result of Temasek's investment, it will postpone a previously proposed spin-off initial public offering for LF Logistics. It will remain a controlling shareholder of LF Logistics with a 78.3% stake. "The investment from Temasek will allow us to unlock the value of LF Logistics and accelerate its business growth. It will also enhance Li & Fung’s capital structure and financial flexibility," Spencer Fung, Li & Fung CEO.