Singapore, 26 November 2025
Pavilion Capital will join the Seviora Group in building a leading Asia-based asset management group. This integration will help Seviora expand their investment capabilities with complementary expertise in Asia-focused private equity fund of funds and co-investment strategies, raising Seviora’s combined assets under management to approximately US$72 billion (S$94 billion)[1].
The integrated platform will be well-positioned to tap into global demand for Asia’s growth opportunities, delivering more innovative and differentiated solutions to global institutional investors and private wealth channels. This, coupled with Pavilion Capital’s longstanding track record in the Asian private equity space, will enhance Seviora’s ability to continue to attract third-party capital. Pavilion Capital will retain its brand and maintain its pan-Asia investment strategy focus while marketing its products under the Seviora Group.
Tow Heng Tan, CEO of Pavilion Capital, will remain to support the integration before retiring on 31 March 2026. The combined platform will report to Gabriel Lim, CEO of Seviora Holdings, providing clear oversight and alignment with its overall strategic objectives which includes scaling the group’s assets under management and expanding the range of investment solutions for investors.
"It's gratifying to see Pavilion Capital become an important addition to Seviora's asset management franchise," said Ho Tian Yee, Chairman of Pavilion Capital. He acknowledged Tow's leadership and how the team's effort in the past 13 years has contributed to creating a compelling investing platform.
Tow Heng Tan, CEO of Pavilion Capital, 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.”
Gabriel Lim, Executive Director and CEO of Seviora Holdings, 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.”
The proposed integration is expected to be completed by Q1 2026 and remains subject to customary regulatory approvals and other closing conditions.
[1] Data based on combined AUM of both entities as at 30 September 2025.
-ENDS -
For media enquiries please contact:
Jose Cerdan, Director of Marketing & Corporate Communications, Seviora Group
jose.cerdan@sevioracapital.com
FTI Consulting
About Seviora Group:
Seviora Group is a Singapore-headquartered independent asset management group with approximately US$63 billion in assets under management as of 30 September 2025 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 160 investment professionals, supported by more than 280 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.
Follow us on LinkedIn