Temasek, an investment firm based in Singapore, is set to establish a new office in Paris, France in the first half of the next year.
The proposed branch will be the firm’s third European location after London and Brussels.
It will be used by Temasek to bolster its global network as well as improve deal flow, partnership options and talent pool throughout the European Union (EU) and the Europe, Middle East and Africa (EMEA) region.
The office will expand Temasek’s presence to 13 locations across nine countries worldwide.
Once opened, the new office will work together with the firm’s London and Brussels offices to accelerate the growth of Temasek across EMEA and the world.
Temasek executive director and CEO 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.”
The latest development comes shortly after Temasek announced the establishment of a new $55bn asset management group last month.