Temasek-owned Pavilion Capital to join Seviora Group

[SINGAPORE] Private capital firm Pavilion Capital will join Seviora Group, the two Temasek-owned firms said on Wednesday (Nov 26).

The combined platform seeks to “tap into global demand for Asia’s growth opportunities”, and deliver “more innovative and differentiated solutions to global institutional investors and private wealth channels”.

The move will help Seviora “expand (its) investment capabilities with complementary expertise in Asia-focused private equity fund of funds and co-investment strategies”, the companies added.

It will also raise Seviora’s combined assets under management (AUM) to about US$72 billion. 

Gabriel Lim – a former top civil servant who became chief executive of Seviora Holdings on Sep 1 – will be in charge of the combined entity. 

Lim, who was formerly Temasek Holdings’ head of corporate strategy, will provide “oversight and alignment with its overall strategic objectives”. This includes scaling the group’s AUM and “expanding the range of investment solutions for investors”.

Tow Heng Tan, chief executive of Pavilion Capital, will “support the integration” before his retirement on Mar 31, 2026.

The private equity firm will retain its brand and maintain its pan-Asia investment strategy focus while marketing its products under Seviora.

“As Temasek’s primary asset management platform, we will continue to scale our capital base and broaden our investment solutions across private equity, private credit, public markets and tailored financing options to meet the evolving needs of our partners,” Lim said. 

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The proposed integration is expected to be completed by the first quarter of 2026, and is still subject to customary regulatory approvals and other closing conditions.