Unigestion has appointed a former Caisse de dépôt et placement du Québec (CDPQ) managing director as chairman of its Asia business.
The Geneva-headquartered fund of funds hired Edouard Merette as non-executive chairman of the board, according to a statement. Merette will be based in Singapore and will lead the firm’s strategy for growth in the region.
“With our increasing presence in Asia since establishing our office in Singapore in 2007, we see the region as one of long term growth for Unigestion,” Bernard Sabrier, the firm’s group chairman, said in the statement. Merette’s knowledge of Asian financial markets will help Unigestion establish strong relationships with investors in the region, he added.
The firm is seeking €300 million for Unigestion Secondary Opportunity Fund IV which launched in the first quarter, as Secondaries Investor previously reported. Unigestion had raised €177 million as of the end of August when it held its first close.
Merette spent two years at CDPQ in its Singapore office where he monitored and selected investments and built teams, according to his Linkedin. He spent seven years as chief executive at Aon Hewitt Asia Pacific and 22 years at Mercer where he became a member of the consulting firm’s global executive committee and its Asia Pacific president.
Merette replaces Bill Foo who served as chairman for five years and who remains a member of the board.
Unigestion manages around $20 billion in assets and invests across private equity, alternatives, equity and multi asset investing.