Singapore's Temasek establishes new asset manager overseeing $55 billion

FILE PHOTO: A woman passes a logo of state investor Temasek Holdings at their office in Singapore July 8, 2014. REUTERS/Edgar Su/File Photo

SINGAPORE (Reuters) - 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 about S$75 billion ($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 Company, InnoVen Capital and Seatown Holdings International.

Reporting by Aradhana Aravindan in Singapore, editing by Louise Heavens