Latest news with #Seviora
Straits Times
29-04-2025
- Business
- Straits Times
Former top civil servant to join asset manager Seviora
Temasek's joint head of corporate strategy Gabriel Lim is set to take over as chief executive of Seviora Holdings on Sept 1. PHOTO: TEMASEK SINGAPORE - Temasek's joint head of corporate strategy Gabriel Lim will join Seviora Holdings, an asset management firm backed by the investment company, as chief executive officer-designate on May 1, 2025. The former top civil servant will also be appointed to Seviora's board. He is set to take over as chief executive on Sept 1, succeeding Mr Jimmy Phoon, who is retiring on Aug 31. Mr Phoon will remain on the board to support a 'smooth leadership transition', Seviora said on April 29. Headquartered in Singapore, Seviora Group is an independent asset manager wholly owned by Temasek. It has US$54 billion (S$70 billion) in assets under management as at Dec 31, 2024, and a team of more than 210 investment professionals, with offices in Singapore, India, China, Indonesia and the United Arab Emirates. Mr Lim's appointment comes seven months after he joined Temasek in October 2024. He currently oversees corporate strategy alongside Ms Lim Ming Pey, who also serves as chief of staff in the executive office and deputy chief corporate officer. Seviora Holdings chairman Goh Yew Lin said Mr Lim 'brings a wealth of experience and a fresh perspective' to the company. 'His extensive experience in strategy development and stakeholder engagement will be an asset to the firm,' he added. Mr Lim began his career in public service in 2000 and has served in various roles cross several ministries, including as principal private secretary to then Prime Minister Lee Hsien Loong from 2011 to 2014. In 2014, he was appointed chief executive of the then Media Development Authority (MDA), where he helmed efforts to regulate and develop the media industry, and led the merger of MDA with the Infocomm Development Authority to form the Infocomm Media Development Authority. Mr Lim was appointed Ministry of Trade and Industry Permanent Secretary in 2019, and subsequently re-designated as Permanent Secretary for Policy at the ministry four years later. In 2020, Mr Lim was recognised for his contributions to the public service with the Public Administration Medal (Gold), which is given to public servants who have demonstrated outstanding efficiency, competence and industry. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
29-04-2025
- Business
- Business Times
Temasek's Gabriel Lim to lead Seviora Holdings as CEO
[SINGAPORE] Temasek Holdings' head of corporate strategy Gabriel Lim will exit his post to lead the Temasek-owned asset management group Seviora Holdings, the group announced in a statement on Tuesday (Apr 29). Lim will join the group on May 1 as designated chief executive officer, and will also be appointed to the board. He will assume the position of CEO on Sep 1, 2025. He will replace current CEO Jimmy Phoon, who joined Seviora in 2020 from asset management firm Seatown Holdings, which is wholly owned by Seviora Group. Phoon will retire when Lim assumes the role, but will remain on the group's board to ensure a smooth transition, said Seviora. Temasek established the Seviora Group in October 2020 with an initial S$75 billion of assets under management. The group, wholly owned by Temasek, acts as the operational holding company for five asset managers affiliated to the state investment firm. These are Azalea Investment Management, Fullerton Fund Management, InnoVen Capital, Seatown Holdings and Seviora Capital. The group operates primarily in Singapore, India, China, Indonesia and the United Arab Emirates, providing global investors access to public and private markets. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Lim will work with Seviora's board and management to drive the 'next phase of growth' for the group, the statement said. 'This includes raising the group's assets under management, improving returns and expanding the range of investment solutions for investors,' the group added. Lim joined Temasek in October 2024, having previously served as permanent secretary of policy at the Ministry of Trade and Industry (MTI). At Temasek, Lim led the company's corporate strategy function with joint-head Lim Ming Pey. In his 24 years in the public service from 2000, Lim served appointments across various ministries, including as principal private secretary to then prime minister Lee Hsien Loong from 2011 to 2014. In 2014, Lim led the former Media Development Authority as chief executive, before joining the former Ministry of Communications and Information in 2016 as permanent secretary. He was then appointed permanent secretary of MTI in 2019. 'Lim's extensive experience in strategy development and stakeholder engagement will be an asset to the firm,' said Seviora chairman Goh Yew Lin.
Al Etihad
24-03-2025
- Business
- Al Etihad
Seviora Group to open office at ADGM
25 Mar 2025 02:26 KHALED AL KHAWALDEH (ABU DHABI) Seviora Group, a leading Asia-based asset management company headquartered in Singapore, has announced the establishment of its Middle East office in the Abu Dhabi Global Market (ADGM). With over $54 billion in assets under management (AUM), Seviora's expansion into the region underscores the growing appeal of ADGM as a hub for global financial institutions. "The opening of our new office in Abu Dhabi marks a major step in our international expansion and highlights the strategic importance of the Middle East in our growth plans," Jimmy Phoon, CEO of Seviora Group said. Seviora's entry into ADGM follows a broader trend of major asset managers establishing a presence in Abu Dhabi's financial centre. By the end of 2024, ADGM was home to 34 asset and fund managers overseeing 166 funds. These included some of the finance world's most recognisable names as well as more boutique firms and offices. Polen Capital, a US-based investment management firm with approximately $63 billion in assets under management (AUM), received its licence in February to commence operations at ADGM. CEO Stan Moss praised the efficiency of the approval process and highlighted Abu Dhabi as a key market for the firm. Omar Sultani, appointed as Polen's Managing Director for the Middle East and Central Asia, emphasised that the firm's expansion reflects the city's growing appeal to global financial institutions."Abu Dhabi has become a key global financial centre, offering an ideal environment for asset managers to expand and innovate," Sultani said. Meanwhile, Investindustrial - a European investment group with over €15 billion in raised fund capital - opened its new office early this year, stating it will serve as the Middle East and Asia hub for its are just the latest in a slew of major financiers to establish a presence on Maryah Island. Marshall Wace, a London-based hedge fund, which manages over $69 billion in assets globally, opened an office in late 2024. During Abu Dhabi Finance Week, an annual event, several major firms announced plans to establish offices in the region. Among them were Investindustrial and Polen Capital, along with General Atlantic, which oversees $100 billion in assets under management (AUM), and Lone Star Funds, managing $95 billion. Golub Capital, a prominent private credit firm with $70 billion in AUM, Eldridge, an insurance-focused investment firm with $74 billion in AUM, and Carta, a global leader in equity management with $150 billion in assets under administration (AUA), also revealed their expansion intentions."Abu Dhabi has really positioned itself to become a leader over the next 20 years. Its psychology was different, and now it's blossoming into this magnet of opportunity," Larry Fink, Chairman and CEO of Blackrock said during a phone-in at the event late last year. Arvind Ramamurthy, Chief Market Development Officer at ADGM, said the latest addition to ADGM was indicative of the successful outreach programmes that the centre had undergone in recent years. "We are delighted to welcome Seviora Group to ADGM, further cementing Abu Dhabi's reputation as a trusted global financial centre. Seviora's establishment of its regional headquarters in ADGM reflects our growing international appeal and the continued expansion of our global network," he said.
Khaleej Times
24-03-2025
- Business
- Khaleej Times
Seviora Group opens first Middle East office in ADGM
Seviora Group, a leading Asia-based asset management group with $54 billion of assets under management and headquartered in Singapore, has announced the establishment of its Middle East office in the ADGM. The new office, coupled with Seviora's existing offices in Singapore, India, China and Indonesia, will contribute to the expansion of the company in Asia and beyond, allowing it to better develop and offer bespoke investment solutions, co-investment opportunities and strategic partnerships to sovereign wealth funds, pension funds, global banks and family offices. Seviora Group offers a gateway to Asia's most compelling investment opportunities, deepening access to the world's most dynamic markets whilst delivering differentiated investment and financing solutions across public and private markets. With investment capabilities spanning private credit, private equity, liquid and semi-liquid strategies, traditional active and liquidity management solutions, Seviora has over 210 multi-disciplinary investment professionals across its five asset management companies (AMCs). To lead its Middle East operations, Seviora has appointed Sadiq Hussain as its Senior Executive Officer for its Abu Dhabi Office. With a distinguished career spanning global asset management and investment banking, Sadiq brings deep expertise in capital markets, institutional partnerships, and regional investment strategies. His experience at leading financial institutions and strong network within the Middle East position Sadiq very well to drive Seviora's growth and engagement in the region. Under his leadership, Seviora aims to deepen its partnerships with key investors and stakeholders, and contribute to the region's financial ecosystem. Jimmy Phoon, CEO of Seviora Group, commented, 'As we continue to scale up Seviora's presence, we're embarking on several partnerships to drive interest into Asia and beyond. The opening of our new office in Abu Dhabi marks a major step in our international expansion and highlights the strategic importance of the Middle East in our growth plans. This move paves the way For further successful partnerships with local investors to meet their rapidly evolving needs. By investing its own capital alongside its clients, Seviora is fully aligned with clients on investment outcomes. Sadiq Hussain, Senior Executive Officer at Seviora Middle East, commented, 'Seviora's expansion into Abu Dhabi is a critical component in its growth trajectory and engagement with the region. ADGM offers a world-class environment that fosters innovation, investment and financial services pedigree, and long-term value creation. I look forward to driving our regional strategy and deepening our engagement with institutional investors.' Arvind Ramamurthy, Chief Market Development Officer at ADGM, remarked, 'We are delighted to welcome Seviora Group to ADGM, further cementing Abu Dhabi's reputation as a trusted global financial centre. Seviora's establishment of its regional headquarters in ADGM reflects our growing international appeal and the continued expansion of our global network.'
Zawya
24-03-2025
- Business
- Zawya
Seviora Group expands international footprint with the opening of its first office in the Middle East
Located in the ADGM, the new office will help Seviora tap into the region's expanding asset management industry, with a focus on strengthening ties with investors, thought leaders and the broader ecosystem of asset managers and financial institutions. Sadiq Hussain appointed as Senior Executive Officer. He will lead Seviora's initiatives and growth in the region. Abu Dhabi, UAE – Seviora Group, a leading Asia-based asset management group with US$54 billion of assets under management1 and headquartered in Singapore, has announced the establishment of its Middle East office in the ADGM. The new office, coupled with Seviora's existing offices in Singapore, India, China and Indonesia, will contribute to the expansion of the company in Asia and beyond, allowing it to better develop and offer bespoke investment solutions, co-investment opportunities and strategic partnerships to sovereign wealth funds, pension funds, global banks and family offices. Seviora Group offers a gateway to Asia's most compelling investment opportunities, deepening access to the world's most dynamic markets whilst delivering differentiated investment and financing solutions across public and private markets. With investment capabilities spanning private credit, private equity, liquid and semi-liquid strategies, traditional active and liquidity management solutions, Seviora has over 210 multi-disciplinary investment professionals across its five asset management companies (AMCs). To lead its Middle East operations, Seviora has appointed Sadiq Hussain as its Senior Executive Officer for its Abu Dhabi Office. With a distinguished career spanning global asset management and investment banking, Sadiq brings deep expertise in capital markets, institutional partnerships, and regional investment strategies. His experience at leading financial institutions and strong network within the Middle East position Sadiq very well to drive Seviora's growth and engagement in the region. Under his leadership, Seviora aims to deepen its partnerships with key investors and stakeholders, and contribute to the region's financial ecosystem. Jimmy Phoon, CEO of Seviora Group, commented: 'As we continue to scale up Seviora's presence, we're embarking on several partnerships to drive interest into Asia and beyond. The opening of our new office in Abu Dhabi marks a major step in our international expansion and highlights the strategic importance of the Middle East in our growth plans. This move paves the way For further successful partnerships with local investors to meet their rapidly evolving needs. By investing its own capital alongside its clients, Seviora is fully aligned with clients on investment outcomes. Sadiq Hussain, Senior Executive Officer at Seviora Middle East, commented: "Seviora's expansion into Abu Dhabi is a critical component in its growth trajectory and engagement with the region. ADGM offers a world-class environment that fosters innovation, investment and financial services pedigree, and long-term value creation. I look forward to driving our regional strategy and deepening our engagement with institutional investors. Arvind Ramamurthy, Chief Market Development Officer at ADGM, remarked: 'We are delighted to welcome Seviora Group to ADGM, further cementing Abu Dhabi's reputation as a trusted global financial centre. Seviora's establishment of its regional headquarters in ADGM reflects our growing international appeal and the continued expansion of our global network. Our recent engagements in key global markets, including Singapore, have strengthened our position as a leading destination for businesses seeking growth and innovation. We look forward to supporting Seviora in unlocking growth opportunities across the region and fostering strategic partnerships that will drive long-term value.' About Seviora Group: Seviora Group is a Singapore-headquartered independent asset management group with US$54 billion in assets under management as of 31st December 2024 and is wholly owned by Temasek. The Seviora Group provides global investors access to a wide range of investment strategies in both public and private markets. The Group has a strong talent pool of over 210 investment professionals, supported by more than 235 staff, with primary presences in Singapore, India, China, Indonesia and UAE. The Seviora Group is aligned with the interests of its investors via its significant investments in its underlying funds, by way of both investment capital and resources, giving them scale and a competitive edge. The Seviora Group's asset management companies (AMCs) include Azalea Investment Management, Fullerton Fund Management, InnoVen Capital, SeaTown Holdings International and Seviora Capital. About ADGM ADGM is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi's position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world. Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island collectively designated as the financial free zone of Abu Dhabi. ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region. Its progressive and inclusive business ecosystem fosters growth, resilience, and optimism, for global financial and non-financial institutions. Growing synergies between ADGM and multiple jurisdictions have positioned the centre as one of the world's most advanced, diverse, and progressively governed financial hubs.
