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SeaTown Holdings International (“SeaTown”), a leading Asia-focused alternative investment firm and wholly-owned subsidiary of Temasek’s asset management group Seviora Holdings, is pleased to announce the final close of the SeaTown Private Credit Fund II (“PCF II”) with over US$1.3 billion in capital commitments. The total commitment size of the second fund surpasses the US$1.2 billion secured for SeaTown Private Credit Fund I (“PCF I”), further adding to the firm’s growth momentum for its private credit strategy.
“We are immensely thankful for the support we have witnessed following the launch of PCF II,” said Patrick Pang, CEO, SeaTown. “This milestone highlights not only the growing appetite for Asian private credit in institutional portfolios around the world but also reflects the confidence and trust in SeaTown’s approach. Our private credit team has demonstrated a clear ability to repeatedly source, structure, and execute complex and bespoke deals across industries. We are excited to continue executing on our proven investment strategy to deliver attractive risk-adjusted returns to our investors.”
Read more in the attached Press Release.
SeaTown believes that successful management of sustainability issues is essential to durable long-term returns. As a supporter of TCFD, a signatory of UN PRI and a member of the IFRS Sustainability Alliance, SeaTown is committed to transparency and has launched its first full-fledged Sustainability Report.
Our inaugural report sets out SeaTown’s approach to responsible investing and our uncompromising stance on robust governance and business ethics. We believe that it is our responsibility to exercise thoughtful stewardship to safeguard the long-term value of our investments.
This report is a culmination of our firmwide, multi-year effort to integrate sustainability across our business.
For our efforts, we have achieved Principles of Responsible Investment (PRI) scores of 4-5 stars across our funds and firm processes. We have also been one of the few Asian organizations to be invited on the PRI in Person Signatory Advisory Committee for the past two years.
Along with our peers and stakeholders, we will work together towards a more sustainable future. SeaTown is also a member of the Asia Investor Group on Climate Change (AIGCC).
SeaTown has been named the ‘Best Private Debt Manager’ for the AsianInvestor Asset Management Awards 2024
Singapore, 1 April 2024 – Leading Asia-focused alternative investment firm SeaTown Holdings International (“SeaTown”), a wholly-owned subsidiary of Temasek’s asset management group Seviora Holdings, is proud to announce that it has been awarded the prestigious title of ‘Best Private Debt Manager’ by a panel of industry practitioners and professionals for the AsianInvestor Asset Management Awards 2024.
The annual award series has recognised the investment industry’s outstanding performers for over two decades. This year saw the highest volume of entries since 2018, reflecting intense competition among leading fund managers, as well as the exceptional quality and proven track record of SeaTown’s private credit offering. Winners were selected based on a range of quantitative and qualitative factors, including performance, business growth, investment approach, portfolio management, fundraising success and more.
“We are honoured to receive this award, and we extend our deepest appreciation to our clients for their continued support over the years,” said Patrick Pang, CEO. “This accolade is a clear testament to the experience and dedication of our private credit investment team and our ability to deliver compelling investment solutions that fulfil the dynamic needs of international investors today.”
SeaTown’s private credit strategy focuses on providing highly tailored financing solutions to companies in Asia. This Asia-focused strategy has demonstrated its ability to source, structure, and execute complex and bespoke deals across sectors critical to regional economies. Following the closing and successful deployment of SeaTown Private Credit Fund I, the firm launched SeaTown Private Credit Fund II at the end of 2022.
Learn more about the Asset Management Awards 2024 here.
About SeaTown
Founded and headquartered in Singapore since 2009, SeaTown is a leading Asia-focused alternative investment firm with deep expertise across private and public markets. Owned by Seviora Holdings, Temasek’s asset management group, we are a trusted steward of capital, investing alongside our investors in conviction-driven strategies.
Our alternative investment fund platform offers international investors exposure to highly specialised private equity, private credit, and thematic absolute return public markets opportunities in the region. As your partner, we strive to deliver compelling risk-adjusted returns by leveraging our extensive relationship network, decades of investing experience and astute global perspectives.
For more information on SeaTown, please visit: https://www.seatowninternational.com/
Investor Contact
Kayla Wah, SeaTown
Media Contact
Kainoa Blaisdell, FTI Consulting
The SeaTown team came together to participate in the One Million Trees movement by National Parks Board (NParks). We spent the morning planting trees at Pulau Ubin – one of the 12 designated sites for the movement.
The One Million Trees movement is an initiative by NParks to plant one million more trees across Singapore with the community by #2030. This is part of their efforts to transform Singapore into a City in Nature, which is a key pillar under the Singapore Green Plan 2030.
To date, NParks has planted >600,000 trees across Singapore. To learn more about the movement, click here About the Movement (nparks.gov.sg).
We are proud to have played an active role in the greening of Singapore, under the Plant-A-Tree fundraiser programme, to which we donated to the costs of young trees and planted them ourselves. We look forward to more opportunities to contribute to this meaningful cause.
Congratulations to SeaTown SkyRacers for coming in 3rd place for the Community Chest Singapore Vertical Marathon, held over the weekend. Organized by National Council of Social Service (NCSS), all proceeds go to support over 100 social service agencies to meet underserved and critical social needs.
The team has trained hard over the last 2 months to climb 57 storeys. Scaling heights is no easy feat but their determination and perseverance certainly paid off!
SeaTown Private Capital Master Fund, the private equity fund managed by SeaTown Holdings International Pte. Ltd. (“SeaTown”), is pleased to announce its investment into Foundation Healthcare Holdings Pte Ltd (“FHH”).
FHH is a ground-up, purpose-built healthcare group starting first in Singapore and will form the nucleus for a new regional private healthcare platform. The vision of this technology-enabled healthcare group is to deliver value-based healthcare by making private healthcare accessible, affordable, and accountable.
With more than 50 specialists spanning 13 medical specialty and an estimated pro-forma revenue of over S$130m, FHH is already one of the largest private healthcare groups in Singapore. FHH will continue to pursue its “buy-and-build” strategy to expand its network, geographical footprint as well as extend into other synergistic ancillary healthcare services. FHH will also leverage technology from Smarter Health Pte Ltd (“SH”), to develop a data-driven technology platform designed to improve coordination between key stakeholders, especially insurers and other third-party payors. This will vastly enhance the patient experience and reduce waste.
The FHH management team will be helmed by Mr Liaw Yit Ming and Dr Lee Hong Huei, former senior executives in IHH Healthcare (SGX: Q0F) and veterans in the healthcare industry.
“I believe we have taken an important first step in establishing a new foundation for private healthcare. There are endless opportunities if stakeholders work together to focus on delivering value for patients. Our vision is to leverage this platform to build a sustainable private healthcare system that is accessible, affordable, and accountable. I am personally humbled and extremely grateful that our simple vision has received not just the trust and support of SeaTown but more importantly, our founding group of doctors!” said Liaw Yit Ming, CEO, FHH.
“FHH’s vision to make healthcare accessible, affordable and accountable resonates strongly with us. We are very pleased to be able to partner with such an exceptional founding team and group of dedicated specialist doctors to achieve this goal. The good traction we have had and the continued interest in FHH is testament that this vision is shared by many practitioners in the industry. We look forward to partnering with them to drive innovation and improve healthcare outcomes for patients in Singapore and beyond” said Dickson Loo, Managing Director, SeaTown.
About Foundation Healthcare Holdings Pte. Ltd. (“FHH”)
FHH is a ground-up, purpose-built, technology-enabled healthcare platform headquartered in Singapore with its sights set on the region. The vision is to design, build and operate a healthcare platform focused on creating value for patients by collaborating with all stakeholders in the healthcare ecosystem.
About Smarter Health Pte Ltd (“SH”)
SH provides a trusted infrastructure for data exchange between key stakeholders of the healthcare ecosystem. Our “Simplify, Standardise and Systemise” approach supports the delivery and payment for healthcare services in an efficient and effective manner. The SH team consists of experienced senior executives from established healthcare and insurance institutions in Asia who believe that healthcare should be accessible, affordable and accountable.
About SeaTown Holdings International Pte. Ltd. (“SeaTown”)
SeaTown is a Singapore-based investment manager focused on alternative, absolute return strategies. SeaTown manages multi-asset and public equity strategies through open-end funds as well as private investments strategies in closed-end funds. SeaTown also offers investment solutions calibrated to clients’ unique investment needs and objectives. SeaTown is a wholly owned subsidiary of Seviora Holdings Pte. Ltd. and indirectly owned by Temasek Holdings (Private) Limited.
To help develop the next generation of sustainability leaders, SeaTown Holdings International Pte Ltd (SeaTown) and Singapore Management University (SMU) have jointly established the SeaTown Sustainability Scholarship (Scholarship).
From Academic Year (AY) 2023/2024 to AY2025/2026, two outstanding third-year SMU undergraduates will be awarded the Scholarship each year. Scholarship recipients are required to have declared Sustainability as a major and must demonstrate excellent academic qualities and an active commitment to sustainability.
Each scholarship recipient will receive a total of S$30,000 (S$15,000 per year for their third and fourth years of study) to cover their tuition fee and/or other study-related expenses. Scholars will also have the opportunity to be involved in a sustainability-focused role in the asset management industry through an internship with SeaTown’s Sustainability Research teams. In total, six students will benefit from the Scholarship.
Patrick Pang, CEO of SeaTown, said, “SeaTown believes that sustainability trends will rewire the business world and present compelling new investment opportunities. We see a clear need for more sustainability-skilled business professionals in Singapore to support its Green Plan and to contribute to Singapore as a leading destination for sustainable investing.”
“We believe that promoting the growth of the next generation of sustainability leaders will magnify Singapore’s contribution to addressing some of the world’s most pressing challenges,” he added.
Commenting on the Scholarship, Professor Bert de Reyck, Dean of SMU Lee Kong Chian School of Business, said, “One of the key strategies in SMU’s Sustainability Blueprint is to develop change agents through education. To prepare our students to be future sustainability leaders and active global citizens, sustainability education is embedded throughout our curriculum, which offers foundation, intermediate and advanced mastery of sustainability issues to all our students.
We are delighted to have found a likeminded partner in SeaTown, and we are grateful for the generosity it has extended to our students through this Scholarship and the internship opportunity with SeaTown’s research teams.”
For more information, please contact:
SMU
Huang Peiling
Snr Assistant Director, Corporate Communications
Email: plhuang@smu.edu.sg
SeaTown
Kayla Wah
Director, Business Development
Email: BD@seatownholdings.com
About Singapore Management University
Established in 2000, Singapore Management University (SMU) is recognised for its disciplinary and multi-disciplinary research that address issues of global relevance, impacting business, government, and society. Its distinctive education, incorporating innovative experiential learning, aims to nurture global citizens, entrepreneurs and change agents. With more than 12,000 students, SMU offers a wide range of bachelors, masters and PhD degree programmes in the disciplinary areas associated with six of its eight schools – Accountancy, Business, Economics, Computing, Law and Social Sciences. Its seventh school, the SMU College of Integrative Studies, offers a bachelor’s degree programme in deep, integrative interdisciplinary education. The College of Graduate Research Studies, SMU’s eighth school, enhances integration and interdisciplinarity across the various SMU postgraduate research programmes that will enable our students to gain a holistic learning experience and well-grounded approach to their research. SMU also offers a growing number of executive development and continuing education programmes. Through its city campus, SMU focuses on making meaningful impact on Singapore and beyond through its partnerships with industry, policy makers and academic institutions. www.smu.edu.sg
About SeaTown Holdings International
SeaTown Holdings International Pte. Ltd. (SeaTown), is a Singapore-based investment manager focused on alternative, absolute-return strategies. SeaTown manages multi-asset and public credit strategies through open-end funds, as well as private investments in closed-end funds. SeaTown also offers investment solutions calibrated for clients’ unique investment needs and objectives. SeaTown is a wholly-owned subsidiary of Seviora Holdings, and indirectly owned by Temasek Holdings. For more information, please visit www.seatowninternational.com.
Existing asset management companies to be organised under new holding company, offering a broad range of products and investment strategies to clients
Singapore, 6 October 2020 – Today, Temasek announces the establishment of Seviora Holdings Pte. Ltd. (“Seviora”), a newly created asset management group, headquartered in Singapore, that will offer a broad range of multi-asset and multi-strategy investment expertise.
Seviora will be set up as the operational holding company for four existing asset management companies currently wholly-owned by, or affiliated to, Temasek. These are Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International. The combined AUM of the group will be about S$75 billion.
A dedicated management team at Seviora will oversee the group’s strategy and growth of assets under management, as well as drive capital allocation to meet business requirements and growth opportunities. The group will provide access to a range of investment strategies across return profiles, asset classes and geographies.
Under the newly-formed structure, Seviora will work with the component entities on areas such as product development as well as marketing and distribution, with emphasis on collaboration and leveraging synergies.
The individual asset management companies will retain operational autonomy and continue to manage their investment strategies and organisational decisions, guided by their respective Boards and management. They will also remain as distinct entities and retain their existing branding.
Mr. Goh Yew Lin will be appointed Chairman of Seviora. Mr. Jimmy Phoon, currently CEO of Seatown Holdings International, will be appointed CEO-designate of Seviora. He will hold both positions concurrently until a successor is appointed for Seatown Holdings International.
“The asset management industry is in a period of rapid change, driven by shifting investor preferences, evolving asset classes and large concentrated pools of capital” noted Mr. Goh Yew Lin, Chairman, Seviora. “By bringing four successful but distinctly different asset management companies together, we see the opportunity to accelerate business growth through creation of scale, synergistic product offerings and greater investment in technology.”
Mr. Jimmy Phoon, CEO-designate, Seviora, added, “The formation of Seviora will enable the group to leverage capabilities of the asset management companies to build a leading Asia-based asset management group that provides access to a broad range of strategies. This new structure will allow us to maintain and build on the brands and investment track records of each asset management company; and to offer existing and prospective clients a more integrated suite of products tailored to their needs.”
Mr. Rohit Sipahimalani, Chief Investment Strategist at Temasek, shared, “Azalea, Fullerton, InnoVen and Seatown are recognised as specialists in their various product and strategy segments. Bringing them together will allow the combined group to further strengthen and leverage skillsets and capabilities, and to build a larger platform for future growth in the asset management space. In addition, the ability to allocate capital across strategies will enable Seviora to fund or seed new initiatives to better serve the evolving needs of investors.”
The transaction is subject to the relevant regulatory and other approvals, expected by the end of 2020.
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About Temasek
Temasek is an investment company with a net portfolio value of S$306 billion as at 31 March 2020. Our three roles as an Investor, Institution and Steward, as defined in our Temasek Charter, shape our ethos to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Our investment direction in Temasek is shaped by structural trends: longer lifespans, rising affluence and sustainable living drive social progress, enabled by technological solutions for sharing economies, smarter systems and a more connected world. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. For more information on Temasek, please visit www.temasek.com.sg
About Azalea
Azalea Investment Management Pte. Ltd is the management arm of the Azalea Group. Azalea is an investor, developer and manager of private assets, starting with private equity (“PE”). The Azalea Group specialises in PE fund investments, with a focus on the development and innovation of new investment platforms and products to make PE accessible to a broader group of investors. The Astrea Platform and the Altrium fund of funds program are two such innovative products. The Astrea Platform brings retail investors in Singapore closer to PE through a series of investment products based on diversified portfolios of PE funds. There are five in the series to-date, with Astrea V being the latest addition to the Astrea Platform. The Altrium fund of funds program expands Azalea’s PE offering to a wider investor base that includes individuals who are accredited investors. Investors can co-invest with Azalea and enjoy privileged access to strong performing PE fund managers globally. The AUM of Azalea is S$7 billion as at 30 June 2020. For more information on Azalea, please visit www.azalea.com.sg
About Fullerton Fund Management Company
Fullerton Fund Management Company Ltd (“Fullerton”) is an Asia-based investment specialist with assets under management of S$54.9 billion as at 30 June 2020. At Fullerton, we are focused on optimising investment outcomes and enhancing investor experience. We help clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through our suite of solutions. Our expertise encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets. As an active manager, we place strong emphasis on performance, risk management and investment insights. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai, London, Tokyo and Brunei.
About InnoVen Capital
InnoVen Capital is Asia’s leading venture lending platform with offices in India, China and Singapore. It provides structured debt capital to high growth ventures. Started in 2008 as the first dedicated venture debt provider in India, the platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and working capital support. Some of the prominent current & past investments include Byjus, Swiggy, Mining Lamp, Oyo Rooms, Akulaku, Momenta, CureFit, 17 Media, Edianzu, FirstCry, Dailyhunt, Carsome, Eruditus, Ruangguru, GreyOrange and Nium. The platform has invested over $650 million across more than 225 start-ups. For more information, please visit www.innovencapital.com
About Seatown Holdings International
Seatown Holdings International (Seatown), based in Singapore, was established in 2009 as an investment manager focused on global alternative, absolute-return strategies. Seatown offers and manages multi-asset and public credit strategies in open-end funds and segregated mandates, as well as private investments in closed-end funds. Our total asset under management is approximately S$7.9 billion as of 30 June 2020.