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C-Suite Hires Drive Fullerton's Private Equity Ambitions

Jackie Bennion, 4 January 2019

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The Asian fund manager hires two key execs to drive growth and raise private equity visibility.

Looking to accelerate client business and focus on private equity, Fullerton Fund Management has announced two key senior New Year's appointments. Mark Yuen will join the Singapore-based investment specialist on 8 January 2019 as chief business development officer, while Tan Huck Khim joined the firm on 1 December 2018 as head of private equity.

Reporting to Fullerton’s CEO Jenny Sofian, Yuen will drive business development strategies and lead efforts to widen Fullerton’s target markets and client investment solutions, the company said yesterday.

Yuen comes from Eastspring Investments where he headed institutional sales and client management, and was responsible for business development among the region's institutional investors. Prior to that, he was business development lead at Robeco Hong Kong, and also lead sales for South East Asia at Credit Agricole Asset Management.

The second strategic hire for the firm, Huck Khim, will head private equity efforts managing the firm’s PE portfolios. Kenneth Chia will support him as vice president of private equity when he joins on 7 January, the group also confirmed. In the newly-created post, Huck Khim will report to Fullerton's CIO Patrick Yeo.

His career covers work at Hermes Private Equity, managing funds for some of the largest UK Pensions. In 2008, he was appointed head of Schroder Ventures Group’s Asian funds, and in 2011, joined Credit Suisse to manage private equity for the bank’s international institutional clients. He started out working for the Singapore government in corporate fund investments.

Adding a private equity team "complements our existing suite of investment strategies, and I look forward to Huck Khim’s contribution in the PE space. I am confident he will work closely with Mark to raise the visibility of this asset class for Fullerton," Yeo said. Fullerton chief executive Jenny Sofian said these are “high-calibre individuals with substantial industry experience” in line with our ambition to "grow Fullerton’s footprint into a leading asset management player."

Fullerton incorporated in 2003 and is a subsidiary of Temasek, a sovereign wealth fund in the city-state. It also has offices in Shanghai, London, Tokyo and Brunei. In 2018, the group merged with Singapore insurer NTUC Income to manage insurance assets worth SG$23 billion (US$17 billion). At the end of November 2018, it had around $33 billion in assets under management.

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