Singapore — Former Temasek Holdings chief executive officer (CEO) and wife of Prime Minister Lee Hsien Loong, Ho Ching, will be taking an advisory role for global investment firm EQT.
“EQT Future is proud to announce the appointment of three high-caliber business executives with strong impact expertise to its Mission Board,” said EQT in a statement on Jan 27.
The Sweden-based firm noted that the purpose of EQT Future is to “provide external objectivity to the fund’s strategic direction and set the bar high for its commitment to drive positive impact.”
Based on its website, EQT Future was launched in October 2021, with an investment range of EUR 400 million (S$604 million) and above.
Along with Mdm Ho, former Country Head of HSBC India, Naina Lal Kidwai and President and CEO of Yara International, Svein Tore Holsether were appointed to the Mission Board.
“We are at a crossroads where the cost of inaction will be higher than the cost of action, and companies must ask themselves which path they will take. To me, EQT has clearly chosen its route,” said EQT Future Mission Board co-chair Paul Polman.
“By placing impact at the focal point of all investment decisions, EQT Future is leveraging the power of private equity to support businesses that can accelerate transformational change for the benefit of the environment and society at large.”
EQT is a purpose-driven global investment organisation with EUR 73.4 billion in assets under management across 28 active funds.
According to its website, EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas, with total sales amounting to EUR 29 billion.
It has more than 175,000 employees collaborating with portfolio companies “to achieve sustainable growth, operational excellence and market leadership.”
Mdm Ho stepped down as Temasek CEO in October 2021, having retained the position since 2004.
Temasek revealed in a statement that its portfolio grew from S$90 billion to over S$300 billion during Mdm Ho’s tenure.
She was appointed a director of Temasek Trust, the philanthropic arm of Temasek, upon her retirement. /TISG