SINGAPORE (Reuters): Temasek-owned Seviora Group said on Wednesday it would integrate Pavilion Capital into its platform to build a leading Asia-based asset management group, lifting combined assets under management to about US$72 billion.
The move will expand Seviora's investment capabilities with complementary expertise in Asia-focused private equity fund of funds and co-investment strategies, Seviora said in a statement.
Pavilion will keep its brand and pan-Asia investment focus but market products under Seviora, the statement said.
Tow Heng Tan, Pavilion's chief executive officer, will stay on to oversee the transition before retiring on March 31. The combined platform will report to Seviora CEO Gabriel Lim.
"This integration reinforces our ambition to become Asia’s leading asset management group," Lim said, adding that Seviora would continue to scale its capital base and broaden investment solutions across private equity, private credit and public markets.
The integration, subject to regulatory approvals, is expected to close in the first quarter of 2026, according to the statement.
Seviora, headquartered in Singapore, managed $63 billion as of September 30, and owns asset managers including Fullerton Fund Management and SeaTown Holdings International.
The move comes as Temasek prepares its biggest structural overhaul in more than a decade to sharpen investment focus.
From April, the Singapore state investor will operate under three new units, Temasek Global Investments, Temasek Singapore and Temasek Partnership Solutions, to make decision-making more agile amid geopolitical and market shifts.
Seviora will remain Temasek's primary asset management platform under the revamped structure.
(Reporting by Yantoultra Ngui. Editing by Mark Potter) -- Reuters
