Seviora Holdings, an asset management arm of Temasek, Singapore, signed an agreement with Mubadala Capital, the alternative asset management subsidiary of Mubadala Investment Co., Abu Dhabi, to establish a strategic partnership, the firms announced on Oct. 29.
The companies signed a memorandum of understanding to establish the partnership, which creates a platform for the firms to “identify and pursue co-investment opportunities and other strategic opportunities globally that align with their respective long-term goals, including in Singapore and the UAE,” the announcement said.
A dedicated joint working committee will also be formed, comprising representatives from both organizations who will facilitate the exchange of knowledge and best practice to help implement the objectives of the MOU.
“We are thrilled to partner with Mubadala Capital, as we expand and extend our footprint into the Middle East and other regions. Harnessing our combined expertise, deep market insights and global investment networks, this MOU will enable us to jointly identify and leverage the most compelling investment and growth opportunities globally,” Jimmy Phoon, CEO of Seviora Holdings, said in the statement.
The two companies will explore new avenues for growth together, Hani Barhoush, CEO and managing director of Mubadala Capital, said in the statement. “Our approach is built on long-term partnerships, and we believe this collaboration will unlock significant opportunities as we continue to pursue global investment initiatives,” he said.
Mubadala Capital manages $23 billion of private assets including private equity, special situations, solutions and venture capital, and is a wholly owned subsidiary of Mubadala Investment Co., the sovereign investor with $302 billion in assets.
Seviora Group has $41.3 billion in assets under management and is owned by Singapore state investment company Temasek, which has S$389 billion ($298.1 billion) in assets.
