Singapore state investor Temasek to open Paris office in 2023

A Temasek logo is seen at the annual Temasek Review in Singapore July 7, 2016. REUTERS/Edgar Su

SINGAPORE, Nov 29 (Reuters) - Singaporean state investor Temasek Holdings (TEM.UL) will open an office in Paris next year as it seeks to focus on investments in the Europe, Middle East and Africa (EMEA) region, it said on Tuesday.

"Our decision to open a new European office reflects the continuing importance of EMEA as an investment destination," Temasek's EMEA head Uwe Krueger said in a statement.

Ranked among the top 10 state investors in the world, Temasek's portfolio value rose to a record S$403 billion ($293 billion) in the year to March 2022.

A Temasek spokesperson told Reuters that the new office is expected to house 10 investment executives by 2024, who the firm said will work closely with Temasek's existing offices in London and Brussels.

Temasek, which has stakes in large listed Asian companies such as DBS Group (DBSM.SI) and China Construction Bank (601939.SS), is mainly focused on Asia.

($1 = 1.3759 Singapore dollars)

Reporting by Yantoultra Ngui; Editing By Anshuman Daga and Jan Harvey

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