Queensland government-owned investment company Queensland Investment Corporation (QIC) has expanded its global footprint presence by opening an office in Singapore to target Asian institutional investors.
According to a company statement, this office will serve as a hub to strengthen local partnerships and explore new capital opportunities in the region.
DealStreetAsia reported last month that QIC, through its presence in Singapore, seeks to forge capital connections and engagements with investors and partners in the Asia-Pacific region.
“QIC’s international presence to date has been centred around the OECD markets in which we invest and manage assets, with offices already in North America, the UK and Europe,” QIC CEO Kylie Rampa said in a statement on Tuesday.
She said that establishing a presence in Singapore is a logical next step in QIC’s evolution, allowing it to demonstrate its commitment to like-minded capital partners across the Asian and Middle-East regions.
QIC, which has A$102.2 billion in assets under management as of June 30, 2023, is an alternatives specialist focusing on infrastructure, real estate, and private equity.
The OECD-focused infrastructure manager’s ties with Asia date back to its first fundraising, which saw participation from several Asian investors.
“These investors have aligned with our strategy and have helped us establish strong relationships in countries like Korea, Japan, China, and Singapore to name a few. These relationships helped lay the foundation for our presence in these regions,” said Ross Israel, Head of Global Infrastructure, Global Infrastructure, QIC, in an interview with DealStreetAsia earlier.
QIC, which is in the process of raising its second infrastructure fund, has garnered strong support from Asian investors while welcoming three to four new investors from this region.
The firm is looking to replicate some of the strategies it has deployed in other jurisdictions, especially in thematic areas like energy transition, in emerging regions of Asia.
QIC Executive Director of Client Solutions and Capital Ravi Sriskandarajah said a local distribution team will deepen existing relationships with clients in the region.
“This team brings a wealth of local knowledge, experience, and language skills, allowing us to work more productively to meet our clients’ objectives while exploring new capital opportunities,” he said.
Sriskandarajah added that QIC is well-positioned to facilitate investment opportunities, particularly those that contribute to the energy transition and nature-based solutions.
“Ryan Choi and Ayako Mitsui are well respected in Korea and Japan, respectively, and their critical insights and strong relationships will be an asset to our organisation,” he said.
Sriskandarajah added that these executives will work alongside QIC’s longstanding Head of Greater China Vicky Wei, who will continue to lead various relationships when she relocates to Singapore in the new year.
Choi and Mitsui are also joined in Singapore by Shiree Hocking, a 13-year QIC veteran, who brings a strategic focus on relationships and new business opportunities in the Middle East and Southeast Asia.