Singapore-based Temasek’s subsidiaries Pavilion Capital and Seviora Group are set to combine, creating an Asia-based asset management group.
Seviora will combine its current investment capabilities with Pavilion Capital’s experience in Asia-focused private equity fund of funds and co-investment strategies.
The combined platform aims to deliver innovative and differentiated solutions to global institutional investors and private wealth channels.
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This integration is expected to increase Seviora’s assets under management (AUM) to approximately $72bn.
Seviora Holdings executive director and CEO Gabriel Lim said: “We are thrilled to welcome Pavilion Capital to the Seviora family. This integration reinforces our ambition to become Asia’s leading asset management group.
“As Temasek’s primary asset management platform, we will continue to scale our capital base and broaden our investment solutions across private equity, private credit, public markets, and tailored financing options to meet the evolving needs of our partners.
“I would also like to extend our sincere appreciation to Tow Heng Tan and the Pavilion Capital Board for their steadfast leadership and guidance, which have shaped Pavilion Capital’s strong track record and positioned the platform for its next phase of growth.”
Pavilion Capital will retain its brand and continue its pan-Asia investment strategy focus, while marketing its products under the Seviora Group umbrella.
Also, Pavilion Capital’s presence in the Asian private equity space is expected to enhance Seviora’s ability to attract third-party capital.
Pavilion Capital CEO Tow Heng Tan will remain in his role to support the integration process before retiring on 31 March 2026.
The combined platform will report to Seviora CEO Gabriel Lim, providing clear oversight and alignment with Seviora’s strategic objectives.
These objectives include scaling the group’s AUM and expanding investment solutions for investors.
The proposed integration is expected to be completed by Q1 2026, subject to customary regulatory approvals and other closing conditions.
Pavilion Capital CEO Tow Heng Tan said: “It has been a privilege to serve as the founding CEO of Pavilion Capital, and I want to thank the team for their contributions and achievements over the past decade.
“I am confident that Pavilion Capital will continue to thrive under Gabriel’s leadership. I would also like to take this opportunity to express my gratitude towards our stakeholders and partners who have supported us throughout our journey.”
Seviora’s offers private credit, private equity, liquid and semi-liquid strategies, traditional active, and liquidity management solutions.
In March, Seviora opened its first office in the Middle East, located in the Abu Dhabi Global Market (ADGM), complementing its existing locations in Singapore, India, China, and Indonesia.
The expansion aims to bolster its presence in Asia and beyond, offering investment opportunities to sovereign wealth funds, pension funds, banks, and family offices.
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