Temasek’s Azalea, SeaTown, Seviora Capital to merge in 2027

[SINGAPORE] Temasek will merge three of its asset managers Azalea Investment Management, SeaTown Holdings International and Seviora Capital from Jan 1, 2027.

Seviora Holdings – the primary asset management platform of Temasek – will integrate the three companies into a single platform with one unified operating model, in a bid 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, while SeaTown’s current chief Patrick Pang will head Seviora’s private capital business.

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Fullerton Fund Management and InnoVen Capital are not affected by this integration, and will continue to operate as separate legal entities within the asset management group.

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; while Seatown has a core strategy of value investing across the capital structure in companies globally.