Temasek Builds Asian BlackRock Through Seviora
Singapore's Temasek is building an 'Asian BlackRock' through its asset management arm Seviora, which oversees approximately $75Bn in assets across four subsidiaries.
Temasek wants Seviora to dominate pan-Asian asset management the way BlackRock dominates globally, and has already started joint ventures with local financial firms across Asia and targeted acquisitions of independent investment managers.
The BlackRock comparison is relevant because BlackRock operates IBIT, the world's largest spot Bitcoin ETP with approximately $54Bn in assets under management.
Seviora's regional expansion is underway, having opened a Middle East office in Abu Dhabi and signed partnerships with Samsung Securities and Doha Bank to distribute global private equity strategies in Korea.