Temasek, the Singaporean sovereign wealth fund, has hired former minister Baroness Vadera, says UK’s Telegraph.

It is understood that fund, which lost at least 20pc of its value during the financial crisis, wants access to Lady Vadera’s financial and geopolitical expertise, as it restructures parts of its $127 billion investment portfolio.

The Cabinet Office’s advisory committee on business appointments is expected to reveal the appointment today as part of Whitehall rules policing roles taken by former Government ministers.

Since leaving the Government last September, Lady Vadera has been hired by the Dubai government to give its strategic advice on the restructuring of Dubai World’s US$26 billion ($36.2 billion) debts. She has also become a policy adviser to the rotating G20 presidency, which currently sits with South Korea.

A former UBS Warburg corporate financier as well as Gordon Brown’s closest economic policy adviser, Lady Vadera is likely to assist Temasek’s board, led by chief executive Ho Ching, for six months.

Temasek has stakes in some of the world’s largest companies and banks, including Standard Chartered, Bank of China and ICICI Bank as well as a 55% share of Singapore Airlines.

However, some recent investments have led to losses, including a short-lived stake in Barclays that was sold at an $1.7 billion loss in late 2008.

It also parted company with director Charles Goodyear, the former BHP Billiton chief executive, less than 10 weeks before he was to become the fund’s chief executive last summer after failing to agree on strategy.

Ho Ching, who is the wife of Lee Hsien Loong, the Singapore prime minister, revealed last July that the fund had lost at least $35.7 billion during the financial crisis.

Lady Vadera declined to comment.