Singapore’s sovereign wealth fund Temasek has inaugurated its new office in Paris, marking a significant step in its European expansion strategy.
This new Parisian base is part of Temasek’s broader objective to enhance its global network and leverage opportunities across the European Union as well as the Europe, Middle East, and Africa (EMEA) region.
The Paris office joins the company’s existing European offices in London and Brussels, bringing Temasek’s total global presence to 13 offices across nine countries.
Temasek’s investment in the EMEA region has seen a significant increase, with the company’s exposure growing nearly fivefold since 2011, reaching S$47 billion (€32 billion), which accounts for 12% of its portfolio as of 31 March 2023.
This expansion reflects Temasek’s focus on tapping into the dynamic opportunities and innovative potential within the region.
The grand opening, which took place on Wednesday, saw the presence of notable dignitaries including Singapore’s Deputy Prime Minister and Finance Minister, Lawrence Wong, and the French Minister for the Economy, Bruno Le Maire, among others.
The event was attended by over 200 guests from various regions including Europe, Asia, and the Americas.
Lim Boon Heng, Chairman of Temasek said at the launch,
“The opening of our Paris office is a significant milestone for Temasek. It is an integral part of our 2030 strategy, which is to expand our global network, construct a resilient portfolio, and grow our organisation, talent and capabilities, with sustainability at the core.
Our Paris office will complement our London and Brussels offices to strengthen Temasek’s global network. It will enhance our access to deal flow and partnership opportunities, and grow our talent pool across EMEA.”
Dilhan Pillay, Executive Director and CEO of Temasek Holdings said,
“The Paris office opening signifies the importance of the EMEA region to Temasek, as we seek to advance our 2030 strategy to expand our global network and construct a resilient and forward looking portfolio, with sustainability at the core of what we do.
Together with our London and Brussels offices, the Temasek ecosystem and the partnerships we have built, we stand ready to collectively catalyse solutions for the biggest challenges of our time.”
