Singapore sovereign wealth fund, Temasek Holdings announced on Tuesday (29 Nov) that it will open a new office in Paris, which will be operational in the first half of 2023.
Together with its London and Brussels offices, Temasek said that the new Paris office will strengthen its global network, and help enhance access to deal flow, partnership opportunities and the talent pool across both the European Union (EU) and the broader Europe, Middle East and Africa (EMEA) region.
With the inclusion of this new Paris office, Temasek will have 13 offices across nine countries.
Temasek reported a portfolio value of S$403 billion as of March 2022.
Mr Dilhan Pillay, Executive Director and Chief Executive Officer of Temasek Holdings, commented: “This new office is part of our 2030 strategy to expand our global network, construct a resilient portfolio and grow our organisation, talent and capabilities, with sustainability at the core.”
“In today’s complex world, a global network both in Temasek and across our partner ecosystem is critical to help address the numerous issues that we face – from wide ranging geopolitical tensions to the challenging macroeconomic environment. Added to that, the existential issue of climate change requires all of us to do our part, innovating across climate change mitigation, adaptation and transition solutions.”
The new Paris office will work closely with Temasek’s existing offices in London and Brussels to further expand Temasek’s presence and access to opportunities in EMEA, in addition to tapping on the expertise of sector teams and Temasek’s network of portfolio companies and platforms.
The decision to open a new European office reflects the continuing importance of EMEA as an investment destination, said Mr Uwe Krueger, Temasek’s Head of EMEA and Head of Industrials, Business Services, Energy & Resources.
Mr Krueger added that Temasek sees great potential for new investments in the region, which it believes will help address the challenges the world faces.
“These opportunities are aligned to the four structural trends – digitisation, sustainable living, future of consumption and longer lifespans – that guide our investment focus. Working together, our three offices, in London, Brussels and Paris, will help us harness the many opportunities that we see across the market, strengthen our connections, and grow our presence across the wider region.”
