Temasek, a Singapore-based investment fund, plans to use its new London office as a platform to explore a series of investments in Africa.
The London office will be located on the top two floors of Standard Life Investment’s King Street building on St James’s in London.
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As London is considered to be the preferred choice of investments for African companies, Temasek’s senior management thinks that a base in the capital will provide a springboard to invest into the continent.
As a part of the move, Temasek has appointed Jon Cryan, UBS’s former chief financial officer, in January 2012 to consider expanding in Europe.
Cryan will head the new London office, which consists of a team of more than 10 people and is scheduled to open in the first quarter of 2014, The Telegraph reported.
Temasek’s £300m African investment fund with the Oppenheimer family has started making investments a year ago and its Tana Africa Capital fund is investing in non-extractive industries and in countries with growing consumer bases, such as Egypt and Nigeria to learn more about the risks involved.
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By GlobalDataTemasek also plans to expand in to the US for the first time in 2014, with the opening of a new office in New York.
