Temasek Holdings sets up new asset manager overseeing $55b

FILE PHOTO - A Temasek logo is seen at the annual Temasek Review in Singapore July 7, 2016. REUTERS/Edgar Su

Singapore state investor Temasek Holdings has set up a new asset management group Seviora Holdings that will have S$75 billion ($55 billion) worth assets under management (AUM), it said in a press release.

Seviora will be set up as a holding company combining Temasek’s four existing asset management companies, Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International.

The new entity will offer a broad range of multi-asset and multi-strategy investment expertise. The official formation of Seviora will subject to the relevant regulatory and other approvals, expected by the end of 2020.

With this move, Temasek expects to leverage the 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; and to offer existing and prospective clients a more integrated suite of products tailored to their needs,” said Jimmy Phoon, CEO-designate, Seviora, who is also the CEO of Seatown Holdings International.

The ability to allocate capital across strategies will enable Seviora to fund or seed new initiatives to better serve the evolving needs of investors, Temasek chief investment strategist Rohit Sipahimalani added.

The individual companies under Seviora will retain operational autonomy and continue to manage their investment strategies and organisational decisions, as well as remain as distinct entities and retain their existing branding.

Following the newly-formed structure, Seviora will work with the component entities on product development, marketing and distribution with an emphasis on collaboration and leveraging synergies.

Temasek director Goh Yew Lin will be appointed as the chairman of the newly-formed Seviora.

Temasek will appoint a dedicated management team at Seviora to oversee the group’s strategy and growth of assets under management, as well as drive capital allocation to meet business requirements and growth opportunities.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.