Singapore-headquartered asset manager Seviora Capital is merging with private equity group Azalea and alternative investment arm SeaTown, the firm said in a press release.
The newly combined Seviora Group will run roughly $76bn in assets under management, wholly owned by Temasek.
The integration is expected to be completed by 1st January 2027, with Seviora CEO Gabriel Lim continuing as its chief executive, with Yeo Hong Ping as COO.
Azalea CEO Chue En Yaw will head Seviora’s global fund solutions business, while SeaTown CEO Patrick Pang will head Seviora’s private capital business.
The firm said Fullerton Fund Management and InnoVen Capital are not affected by the integration and will continue to operate as separate legal entities.
Gabriel Lim, CEO at Seviora, said “We are excited to be integrating our wholly-owned businesses as one. Since Seviora was established in 2020, our AMCs have progressively built shared capabilities across areas such as sustainability, technology, human resources, and sales and distribution.”
“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.”
“This is an important milestone in the evolution of our Group and reinforces our ambition to be a leading capital gateway between Asia and the world.”
Chue En Yaw, CEO of Azalea, said “Azalea has built a strong track record of making private equity more accessible through innovative fund solutions.”
“By bringing our capabilities together on a unified platform, we can leverage the Group’s wider private markets expertise to deliver even greater value.”
Patrick Pang, CEO of SeaTown, said “We see huge promise in this next chapter for the Group. As part of a larger, more integrated platform, our private credit and private equity teams will benefit greatly from the scale, resources and broader relationships of the Group.”