淡马锡正在进一步整合其资产管理业务，其主要平台Seviora Holdings计划于2027年1月将三家全资控股的资产管理公司——Azalea Investment Management、SeaTown Holdings International和Seviora Capital——纳入单一运营模式。
Temasek is moving to further consolidate its asset-management businesses, with its main platform Seviora Holdings planning to integrate three wholly-owned managers—Azalea Investment Management, SeaTown Holdings International and Seviora Capital—under a single operating model from January 2027.
此举是新加坡国有投资公司为在其资产管理业务中实现规模化、聚焦其看好的增长领域（尤其是私募市场）而开展的更广泛努力的一部分。
The move is part of a broader effort by the Singaporean state investment firm to build scale across its asset-management businesses and sharpen focus on areas where it sees growth, particularly private markets.
按照计划的整合，Gabriel Lim将继续担任Seviora的首席执行官，而Yeo Hong Ping将出任首席运营官。目前担任Azalea首席执行官的Chue En Yaw将负责Seviora的全球基金解决方案业务，而SeaTown首席执行官Patrick Pang将负责集团的私募资本业务。
Following the planned integration, Gabriel Lim will remain CEO of Seviora, while Yeo Hong Ping will become chief operating officer. Chue En Yaw, currently CEO of Azalea, will lead Seviora’s Global Fund Solutions business, while SeaTown CEO Patrick Pang will head the group’s Private Capital business.
Fullerton基金管理和InnoVen资本将继续作为集团内的独立法律实体存在。合并后的业务预计将以Seviora名称运营，但需获得必要的批准。
Fullerton Fund Management and InnoVen Capital will remain separate legal entities within the group The combined business is expected to operate under the Seviora name, subject to necessary approvals.
根据公告，Fullerton基金管理和InnoVen资本将继续作为集团内的独立法律实体存在。淡马锡的主要风险投资部门Vertex Holdings未在此次公告中被提及。
Fullerton Fund Management and InnoVen Capital will remain separate legal entities within the group, according to the announcement. Vertex Holdings, Temasek’s major venture capital arm, was not mentioned in the announcement.
此次重组正值淡马锡持续重塑其资产管理生态系统之际。Seviora成立于2020年，作为四家现有资产管理公司——Azalea、Fullerton、InnoVen和SeaTown——的控股公司，当时合计管理约750亿新元资产。
The restructuring comes as Temasek has been steadily reshaping its asset-management ecosystem. Seviora was established in 2020 as a holding company for four existing managers—Azalea, Fullerton, InnoVen and SeaTown—with about S$75 billion of combined assets at the time.
淡马锡于2025年宣布了一项更广泛的组织架构调整，将Seviora定位为其主要的资产管理平台，并表示将与Temasek Partnership Solutions一起对其资产管理公司进行战略审查。目标是优化资产管理组合，聚焦投资重点，并将资源与亚洲公共和私募市场的增长机遇相匹配。
Temasek announced a broader organisational overhaul in 2025, naming Seviora as its main asset-management platform and saying it would undertake a strategic review of its asset-management companies alongside Temasek Partnership Solutions. The goal was to optimise the asset management portfolio, sharpen investment focus and align resources with growth opportunities in Asian public and private markets.
Pavilion Capital 在截至 2026 年 3 月的财政年度内并入 Seviora Group，这一过程已经导致了整合。Pavilion Capital 在截至 2026 年 3 月的财政年度内并入 Seviora Group，增强了其聚焦亚洲的私募股权基金的基金及共同投资能力。这使得 Seviora 的管理资产总额达到约 760 亿美元。
Pavilion Capital was integrated into Seviora Group during the financial year ended March 2026 The process has already resulted in consolidation. Pavilion Capital was integrated into Seviora Group during the financial year ended March 2026, strengthening its Asia-focused private equity fund-of-funds and co-investment capabilities. That pushed Seviora’s combined assets under management to about $76 billion.
最新的整合汇聚了互补的投资业务。Azalea 专注于私募股权基金，并已扩展至共同投资、二级市场和常青产品，而 SeaTown 拥有私募股权和私募信贷能力。Seviora Capital 包含聚焦亚洲的私募股权和流动性另类策略，包括 Pavilion 品牌。
The latest consolidation brings together complementary investment businesses. Azalea focuses on private equity funds and has expanded into co-investments, secondaries and evergreen products, while SeaTown has private equity and private credit capabilities. Seviora Capital houses Asia-focused private equity and liquid-alternatives strategies, including the Pavilion franchise.
人事变动 与此同时，Seviora Capital 也出现了一些人事变动。
Personnel changes In parallel, there have been some personnel changes at Seviora Capital.
两位投资高管 Chia Choon Hoong 和 Paul Chew，均曾与 Pavilion Capital 有关联，最近离开 Seviora Capital 以寻求其他机遇，DealStreetAsia 在周四（10 月 8 日）报道了这一消息。
Two investment executives, Chia Choon Hoong and Paul Chew, both of whom were associated with Pavilion Capital, recently left Seviora Capital to pursue other opportunities, DealStreetAsia reported on Thursday (Oct. 8).
Seviora 表示，这些离职是正常流失的一部分，并未影响其投资能力，并指出现有的 Pavilion 团队继续管理其东南亚基金解决方案策略。
Seviora said the departures were part of normal attrition and did not affect its investment capabilities, noting that the existing Pavilion team continues to manage its Southeast Asia funds-solutions strategy.
最新的整合正值 Temasek 试图扩大其另类投资平台，并为投资者提供更广泛的私募市场策略准入之际。该国有投资者在其 2026 年度报告中表示，其资产管理公司最初成立时是更具灵活性、专业化的平台，针对高增长细分市场，但目前正在审视其投资组合，以加强投资纪律、推动价值创造，并使这些企业在改善的市场条件下获得更好的定位。
The latest consolidation comes as Temasek seeks to scale its alternatives platform and provide investors with broader access to private-market strategies. The state investor said in its 2026 review that its asset-management companies were originally established as more nimble, specialised platforms targeting high-growth segments, but that it is now reviewing the portfolio to strengthen investment discipline, drive value creation and position the businesses for improved market conditions.
“作为一个单一平台整合在一起是自然的下一步，”林说，并补充称，这种整合将使客户能够通过单一关系获取集团的投资能力，同时使其能够在人员、研究和技术方面投入更多。
“Coming together as a single platform is the natural next step,” Lim said, adding that the integration would give clients access to the group’s investment capabilities through a single relationship while allowing it to invest more in people, research and technology.
更广泛的策略与淡马锡推动其资产管理部门成为亚洲与全球投资者之间资本门户的举措保持一致。该集团表示，希望塞维奥拉能够在私募股权、私募信贷、公开市场和定制融资解决方案方面拓宽其资本基础和能力。
The broader strategy is consistent with Temasek’s push to make its asset-management arm a capital gateway between Asia and global investors. The group has said it wants Seviora to broaden its capital base and capabilities across private equity, private credit, public markets and tailored financing solutions.
与此同时，东南亚已成为淡马锡内部更广泛的亚太地区（不包括中国和印度）投资板块的一部分。DealStreetAsia的消息人士称，投资团队正在重组，以覆盖包括日本和韩国在内的市场。
Meanwhile, Southeast Asia has become part of a broader Asia-Pacific (excluding China and India) investment grouping within Temasek. Sources told DealStreetAsia that the investment team is being reorganised to cover markets including Japan and South Korea.
淡马锡继续在全球部署资本，美国是其全球直接投资组合中的最大目的地。与此同时，印度仍然是一个重要的长期市场，淡马锡正专注于消费、金融服务和医疗保健等领域。
Temasek continues to deploy capital globally, with the US being the largest destination within Temasek’s Global Direct Investments portfolio. India, meanwhile, remains an important long-term market, with Temasek focused on areas including consumer, financial services and healthcare.