PARIS – Temasek on April 10 opened an office in Paris, its third in Europe, expanding its global footprint to 13 offices across nine countries.
The Singapore-headquartered investment company said the Paris office – together with its existing offices in London and Brussels – will improve access to investment and partnership opportunities, as well as the talent pool across both the European Union and the broader Europe, Middle East and Africa (EMEA) region.
A Temasek spokesperson told The Straits Times that the company plans to invest $20 billion to $25 billion in the EMEA region over the next five years.
Temasek had a net portfolio value of $382 billion as at March 31, 2023. Since 2011, the company’s exposure to the EMEA region has grown almost five times to $47 billion, or 12 per cent of its portfolio.
Speaking at a reception at art museum Le Petit Palais to mark the opening of the new office, Temasek chairman Lim Boon Heng recounted how Europe was still facing economic uncertainty coming out of the global financial crisis when Temasek opened its London office – its first in Europe – 10 years ago.
There were financial crises affecting 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,” he said.
He added that Temasek’s investment activities are aligned to four structural trends: digitisation, sustainable living, future of consumption and longer lifespans.
Guided by these trends, Temasek has invested in French companies such as digital health insurer Alan, e-commerce marketplace ManoMano and quantum computing firm Pasqal.
Temasek will also be focusing on investment opportunities aligned to energy transition technologies going forward, given Europe’s leadership position in this area, Mr Lim said.
“This is part of our commitment to contribute towards accelerating the world’s net-zero journey,” he added.
Mr Nagi Hamiyeh, Temasek’s new head of EMEA, said the company recognises the excellence in Europe’s leading firms in sectors that fall within these four 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,” he said.
The Paris branch’s opening comes as Temasek, which was incepted in 1974, celebrates its 50th anniversary.
Deputy Prime Minister and Finance Minister Lawrence Wong, who attended the event, stressed the need to strengthen connections between different countries and different regions of the world, in an era of competition and conflict where great power politics has returned.
