Temasek unit Fullerton Fund Management is building up a new private equity team, which will take the Asia-based investment specialist's capabilities beyond its existing focus on equities, fixed income, multi assets and alternatives.
Last month, Mr Tan Huck Khim, formerly with Credit Suisse's customised fund investment group as a partner on the global investment committee, joined as head of private equity.
He is responsible for driving the firm's private equity strategies, managing its private equity portfolios and developing investment solutions for clients.
Next Monday, Mr Kenneth Chia will join as vice-president of the private equity team from his previous job at AIA Investment Management, where he was senior manager in the external manager strategies and alternative investments team.
The company said the addition of a private equity team is meant to complement its existing range of strategies and solutions for clients.
It added: "We are looking to build this business methodically in phases and the hires represent the first stage of constructing a meaningful private equity business."
Fullerton chief investment officer Patrick Yeo said yesterday that adding a private equity team "ensures the firm can extend its comprehensive range of investment solutions to address our clients' long-term needs".
He added: "Fullerton is aware of the need to ensure our investment capabilities remain competitive and Huck Khim's appointment represents a significant enhancement of our investment proposition.
"Our dedicated private equity capability effectively complements our existing suite of investment strategies."
Fullerton also announced the appointment of Mr Mark Yuen as its new chief business development officer. He will join next Tuesday.
Mr Yuen was formerly director and head of institutional sales and client management at Eastspring Investments, the Asian asset management business of Prudential. He also worked previously at Robeco Hong Kong, Credit Agricole Asset Management and the Monetary Authority of Singapore.
He will lead efforts to widen Fullerton's target markets and client segments, and expand the development and distribution of investment solutions.
He will report to Fullerton chief executive Jenny Sofian.
Ms Sofian said: "It is an opportune moment for us to make these senior appointments, as we accelerate to bring the business to the next level.
"Huck Khim and Mark are high-calibre individuals with substantial industry experience."