Temasek-related Azalea, SeaTown, Seviora Capital to merge in 2027
Fullerton Fund Management and InnoVen Capital will continue to operate as separate legal entities within the group
[SINGAPORE] Three Temasek-related asset managers – Azalea Investment Management, SeaTown Holdings International and Seviora Capital – will merge from Jan 1, 2027.
The trio are currently wholly owned asset management companies of Seviora Holdings, Temasek’s primary asset management platform. Seviora Holdings will integrate the three companies into a single platform with a unified operating model to enhance investors’ access to its full breadth of investment capabilities, it said in a statement on Thursday (Oct 8).
“Coming together as a single platform is the natural next step – one that gives clients easier access, through a single relationship, to the breadth of our investment capabilities and allows us to invest more in our people, research and technology,” said Gabriel Lim, chief executive of Seviora.
This comes as Singapore is pushing to compete in the asset management space.
The Seviora group is also undergoing a brand review, with further details to be “shared in due course”, it noted.
Seviora expects the integration to create a more connected and seamless platform for clients, partners and employees, and to pursue new opportunities for growth.
Upon completion of the integration, the combined business is expected to operate under the Seviora name.
Gabriel Lim will continue as CEO of Seviora, with Yeo Hong Ping as chief operating officer. Azalea’s current CEO Chue En Yaw will head Seviora’s global fund solutions business, and SeaTown’s current chief Patrick Pang will head Seviora’s private capital business.
Fullerton Fund Management and InnoVen Capital are unaffected by this integration, and will continue to operate as separate legal entities within the asset management group.
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Seviora was set up in 2020 to bring together a broad range of multi-asset and multi-strategy investment expertise under one umbrella.
Among the asset managers under the holding company, Azalea focuses on private equity; Fullerton’s expertise includes equities, fixed income, alternatives and treasury management; Innoven provides debt capital to high-growth innovative companies backed by venture capital firms; Seatown looks at specialised private equity and private credit opportunities in the region.
Temasek announced a restructuring last year amid heightened global uncertainty. From April this year, Temasek organised itself into three entities to manage three distinct portfolio segments.
The segments are: global direct investments; Singapore-based Temasek portfolio companies; and partnerships, funds and asset management companies.
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