SINGAPORE: Singapore state investment firm Temasek Holding said on Tuesday (Oct 6) that it has established a new asset management group that will have combined assets under management of about S$75 billion.
Seviora Holdings will be set up as the operational holding company for four existing asset management companies currently wholly-owned by, or affiliated to, Temasek.
AdvertisementAdvertisementThose firms are Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International.
Seviora Holdings, which will be headquartered in Singapore, aims to provide access to a range of investment strategies across return profiles, asset classes and geographies, said Temasek in a media release.
"Under the newly formed structure, Seviora will work with the component entities on areas such as product development as well as marketing and distribution, with emphasis on collaboration and leveraging synergies," it added.
Mr Goh Yew Lin, a Temasek director, will be appointed chairman of Seviora.
AdvertisementAdvertisementMr Jimmy Phoon, currently CEO of Seatown Holdings International, will be appointed CEO-designate of Seviora. He will hold both positions concurrently until a successor is appointed for Seatown Holdings International.
The new structure is subject to the relevant regulatory approvals and is expected to be completed by the end of this year.
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