Partners Group will propose Anne Lester and Flora Zhao to its board of directors at its annual general meeting (AGM) May 25, it said in a statement Thursday.

Board member Grace del Rosario-Castaño, who is chair of the nomination & compensation committee and was previously the only woman on the all-male board, will step down from her position after the AGM.

Lester has worked for three decades in senior roles at J.P. Morgan Asset Management, and served most recently as managing director, portfolio manager and head of retirement solutions in the multi-asset solutions division.

At Partners Group, Lester will further develop private market solutions for U.S. defined contribution retirement plans.

Singapore Sovereign Wealth Fund

Among her current roles, board candidate Zhao, serves as president of Gas Asia at BP and managing director for Asia and the Middle East at U.S. energy firm AES. She is also a senior advisor to organizations such as Singapore's sovereign wealth fund Temasek, the statement says.

Zhao's role at Partners Group will be to focus on the entrepreneurial management of portfolio companies, particularly in Asia and for investments in the infrastructure sector.

Partners Group board of directors is set to look as follows:

• Steffen Meister, chair
• Martin Strobel, deputy chair
• Marcel Erni
• Alfred Gantner
• Joseph P. Landy
• Anne Lester
• Urs Wietlisbach
• Flora Zhao