Singapore’s state investor has opened its Paris office this week in a move to grow its presence in Europe, the Middle East, and Africa (EMEA) where it has a S$47-billion exposure, amounting to nearly 12% of its total assets, predominantly in Europe.
The new outpost will help Temasek, which manages S$382 billion in assets globally, access investment and partnership opportunities as well as the talent pool in the region in addition to the existing London and Brussels offices. The Singaporean investment firm now has 13 offices across nine countries, according to a statement on Thursday.
Temasek chairman Boon Heng Lim, who spoke at the office’s reception at art museum Le Petit Palais in Paris, recalled the opening of Temasek’s first European office in London a decade ago when Europe was facing economic uncertainty led by the Global Financial Crisis and the financial crises rippling through Portugal, Ireland, Italy, Greece, and Spain.
“Even then, I said that Temasek saw a deeper purpose in providing a bridge between Europe and Asia, and partnering European companies, both inside and outside Europe,” Lim said.
Temasek is eyeing dealmaking in line with four trends it’s trying to capture: digitisation and sustainable living, which have a pervasive impact on all business sectors; as well as its so-called “future of consumption and longer lifespans”, which reflect the structural shifts in consumption patterns and growing needs driven by longevity.
“We recognise the excellence in Europe’s leading companies in sectors which come within these trends, such as sustainable solutions, pharma/biotech, consumer, financial services, technology, and transportation and logistics. We expect to deploy significant capital into globally leading companies as well as promising emerging enterprises in these areas,” said Temasek’s Head of EMEA Nagi Hamiyeh, who was recently promoted to succeed Uwe Krueger in the role.
Some of its EMEA portfolio companies and partnerships in the sectors include Tikehau Capital, Element Materials, Busy Bees, BioNTech, and Adyen.
Temasek will also look at investment opportunities in energy transition technologies in Europe as part of its commitment to contribute towards accelerating the world’s net zero journey, according to Lim.
