The Queensland Investment Corporation (QIC) has opened an office in Singapore, its first in Asia outside of its home base in Australia as the company looks to explore opportunities in the region.
This is the fifth overseas office after New York, San Francisco, Copenhagen and London for QIC, the investment arm of the Queensland state government.
Located at the Marina Bay Financial Centre in Singapore, the new office “will serve as a hub to strengthen local partnerships and explore new capital opportunities in the region”, the company says in a statement on December 6.
According to Chief Executive Officer Kylie Rampa, the move is a “logical next step in QIC’s evolution, affording us the opportunity to demonstrate our commitment to like-minded capital partners across the Asian and Middle East regions”.
“These capital partners are sophisticated and active in the Australian private market, where our capabilities in infrastructure, private debt, real estate and natural capital resonate strongly,” she says.
The company plans to deploy a local distribution team in Singapore to deepen existing relationships with clients in the region.
QIC had A$102.2 billion (US$65.39 billion) of assets as of June 2023.