Temasek Launches Seviora to Boost Funds Business
Singapore’s state investor Temasek will set up Seviora, an operational holding company housing four asset managers with about S$75 billion in assets under management.
Seviora Holdings will collaborate with the four asset managers on areas such as product development, marketing and distribution with an «emphasis on collaboration and leveraging synergies», according to a statement.
The four entities under Seviora are wholly-owned or affiliated with Temasek and they include: private equity specialist Azalea Investment Management; multi-asset global manager Fullerton Fund Management; InnoVen Capital, which provides debt capital to VC-backed high-growth innovative firms; and Seatown, a global value investing specialist.
The individual asset managers will remain as distinct entities and brands, retaining autonomy across their operations, investment strategies and organizational decisions.
Seviora Management Team
A dedicated management team at Seviora will oversee the group’s strategy, asset growth and drive capital allocation for business.
Seviora has named Goh Yew Lin, a Temasek director and managing director from Singapore investment firm GK Goh, as chairman and Jimmy Phoon as its CEO. Phoon is currently the CEO of Seatown, a role he will retain until a successor is appointed.
«By bringing four successful but distinctly different asset management companies together, we see the opportunity to accelerate business growth through creation of scale, synergistic product offerings and greater investment in technology,» Goh said.
