By Tria Dianti
SINGAPORE – Singapore investment company Temasek will open a new branch in Paris, and it will be operational in the first half of 2023.
It will be Temasek's third European office after its London and Brussels outposts.
In a statement on Tuesday (29 November), Temasek said that "the Paris office will strengthen Temasek's 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 this new Paris office, Temasek's global footprint will increase to 13 offices across nine countries.
Temasek Holdings' executive director and chief executive officer Dilhan Pillay said,"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."
Uwe Krueger, Temasek's head of EMEA and head of Industrials, Business Services, Energy & Resources, added that the decision to open a new European office reflects the continuing importance of EMEA as an investment destination.
"We see great potential for new investments in the region, which we believe 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," he said.
Temasek has net portfolio value of S$403 billion as of 31 March 2022. It has 12 branch offices in eight countries: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen and Singapore in Asia; and London, Brussels, New York, San Francisco, Washington DC, and Mexico City outside Asia.