Temasek launches $55-billion asset management firm to raise funds

Singapore state investor Temasek Holding said on Tuesday that it has established a new asset management group that will have combined assets under management of about S$75 billion ($55.14 billion). This will help raise more funds independently and save costs.

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.

Those firms are Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International.

Seviora, which will be based in Singapore with its own management team, aims to provide access to a range of investment strategies across