Ho Ching, who recently retired as the long-running CEO of Singapore state-owned investment company Temasek Holdings, has joined the Mission Board of EQT’s sustainability-focused Future fund.
EQT Future makes investments of 400 million euros and above in mature companies which can accelerate sustainable transformations; its investments focus on climate protection, such as reducing greenhouse gas emissions, safeguarding resources, improving physical and mental health and creating equal opportunities, according to EQT’s website.
According to Crunchbase data, EQT Future, which was launched in October 2021, has raised 4 billion euros. The Mission Board will work closely with EQT Future’s investment advisory team through the investment process, the company said.
Married With Singapore's Prime Minister
Singapore’s Ho Ching, who is a director of Temasek Trust, a philanthropic asset manager, led Temasek Holdings as it began to shift toward more sustainability-focused investments. She is married to Singapore’s Prime Minister Lee Hsien Loong. EQT and Temasek have collaborated on investments in recent years.
In January 2020, EQT Infrastructure and Temasek set up O2 Power, a renewable energy platform in India that targeted more than 4 gigawatts of installed solar and wind capacity and received $500 million in commitments from the two investors. In July 2021, EQT Infrastructure V fund acquired Cypress Creek Renewables, a renewable energy platform in the U.S., from funds managed by Temasek and HPS Investment Partners.
Leveraging the Power of Private Equity
Paul Polman, the co-chair of the EQT Future Mission Board, said in the statement the fund will leverage the power of private equity to support businesses benefiting the environment and society. Polman is a former CEO of Unilever.
Other new members of the Mission Board included Naina Lal Kidwai, the former country head of HSBC India, executive director of the board of HSBC Asia Pacific and head of investment banking at Morgan Stanley India, EQT said.
Other Appointments
In 2015, she founded the non-governmental organization (NGO) India Sanitation Coalition to promote educating children about safe sanitation and hygiene. Svein Tore Holsether, who is president and CEO of Yara International, a fertilizer company, has also joined the Mission Board, EQT said.
Hedda Pahlson-Moller, who is the co-founder and CEO of TIIME.org, which provides advisory on impact investing, also joined the Mission Board, EQT said. Jacob Wallenberg, the chairperson of Investor AB and vice-chairperson of ABB and Ericsson, had previously been appointed to the Mission Board, EQT said.
Overall, EQT has EUR73.4 billion in assets under management across 28 active funds.
