Temasek establishes new asset manager overseeing $55 bn

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 $55.14 billion. Seviora Holdings Pte Ltd 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 Co, InnoVen Capital and Seatown Holdings Intl. — Reuters