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Temasek establishes new asset management entity worth $50 bn

Seviora Temasek_GBO_Image

Seviora will serve as an operational company for four of Temasek-owned firms

Singapore-based investment company Temasek has rolled out a new entity worth $50 billion under its asset management, media reports said. The asset management group is known as Seviora.

It is reported that the new asset management group will be based in Singapore and will offer multi-strategy investments across geographies, return profiles and asset classes. Seviora will serve as an operational company for four of Temasek-owned firms: Fullerton Fund Management, InnoVen Capital, Azalea Investment Management and Seatown.

Jimmy Phoon currently serves as the designated CEO for Seatown. Mr. Phoon will serve as the CEO for both the firms until a successor is assigned in Seatown for the leadership role. The designated chairman of Seviora is Goh Yew Lin is currently the MD of payroll services company GK Goh.

Mr. Phoon, told the media, “The formation of Seviora will enable the group to leverage capabilities of the asset management companies to build a leading Asia-based asset management group that provides access to a broad range of strategies. This new structure will allow us to maintain and build on the brands and investment track records of each asset management company.”

It is reported that Seviora’s strategy and growth of assets under management will be overseen by a special management team. The team will be also responsible for boosting capital allocation which will assist the group to be in line with growth opportunities and business requirements.

Seviora will retain the operational autonomy, continue to float different investment ideas and take organisational decisions.

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