Temasek establishes new asset management group

It has a combined AUM of $75b.

Temasek has established Sevoria Holdings, an asset management group with a combined AUM of $75b.

In an announcement on their website, Temasek said that Sevoria will serve as the operational holding company for four of its existing asset management companies it owns or is affiliated to: Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International.

Temasek clarified that the operations of individual asset management companies will remail separate. They will also remain as distinct entities and retain their existing branding.

Goh Yew Lin has been appointed as chairman of Seviora, whilst Jimmy Phoon, currently CEO of Seatown Holdings International, will be appointed CEO-designate of Seviora. Phoon will hold both positions concurrently until a successor is appointed for Seatown Holdings International.