Temasek on Tuesday announced plans to open a Paris office during the first half of the coming year, the Singapore government-owned investment company's third office in Europe following London and Brussels and its 13th globally.
A Paris office "will help enhance access to deal flow, partnership opportunities and the talent pool across both the European Union and the broader Europe, Middle East and Africa region," according to a Temasek news release.
A spokeswoman for Temasek, which pegged the value of its investment portfolio at S$403 billion ($297.7 billion) as of March 31, said there are no details to share at this time regarding who will be heading the Paris office.
In July, when results for the fiscal year ended March 31 were announced, Temasek said unlisted assets had climbed to a record 52% of the value of its portfolio, up from 45% the year before.
Dilhan Pillay, executive director and CEO of Temasek Holdings, said in the news release, "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."
Uwe Krueger, Temasek's head of EMEA and head of industrials, business services, energy and resources, said in the same news release that the decision to open a new office in Europe reflects "the continuing importance of EMEA as an investment destination" in pursuit of the organization's four structural trends: digitization, sustainable living, future of consumption and longer life spans.
