Temasek, Li May Join Bid for AIG Unit

Singapore's Temasek Holdings and Pacific Century Group, run by investor Richard Li, are said to be among the financial backers considering participating in a group led by Franklin Templeton Investments that is in exclusive talks to buy American International Group's(AIG Quote) asset-management business, a report says.

The AIG Investments unit, which manages about $85 billion in assets for pension funds and insurance companies, is expected to be sold for about $500 million, the Wall Street Journal reports, citing people familiar with the situation. A deal could be completed by the end of June.

Securing the backing of the two prominent Asian investors could help strengthen the offer by Franklin Templeton and New York-based private-equity firm Crestview Partners, the Journal notes. ...