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Singapore has built the conditions private equity firms look for: political stability, a business-friendly regulatory regime, strong rule of law, and deep connectivity to the rest of Asia. Its central location and network of free trade agreements make it a natural base for firms deploying capital across Southeast Asia, India, and greater China, while its tax treaties and fund structuring regimes give managers flexibility that's hard to find elsewhere in the region.
The city-state's talent pool adds to the appeal. Singapore hosts a dense concentration of investment professionals, legal and fund administration expertise, and institutional capital, from sovereign wealth funds to family offices, that fund managers can tap for co-investment and deal sourcing.
In this article, we will be discussing the top ten private equity firms in Singapore, ranked by assets under management using Joe, powered by Dakota, data.
Overview: GIC is a global long-term investor established in 1981 to manage Singapore's foreign reserves. Headquartered in Singapore with offices worldwide, GIC manages well over US$700 billion across a diversified portfolio, including equities, fixed income, real estate, private equity, infrastructure, and alternative assets. It is recognized for its disciplined approach, institutional governance, and ability to deliver sustainable long-term returns across cycles.
Focus: GIC invests globally across public and private markets, with an emphasis on resilience, diversification, and long-term value creation. It partners with corporations, asset managers, and funds across multiple sectors, seeking both financial returns and portfolio stability for Singapore's reserves. Its investment philosophy balances risk management, active ownership, and innovation, positioning it to capture opportunities across developed and emerging markets.
Overview: Seviora Group is Temasek's primary asset management platform, headquartered in Singapore and formed in 2020 as a holding company for a cluster of specialized asset managers, including Fullerton Fund Management and SeaTown Holdings International. In November 2025, Seviora absorbed sister firm Pavilion Capital, a pan-Asia private equity fund-of-funds and co-investment manager, lifting the combined platform's assets under management from US$63 billion to approximately US$72 billion. The integration positions Seviora as one of Asia's largest independent asset management groups.
Focus: Seviora invests across private equity fund-of-funds and co-investment strategies throughout Asia, alongside private credit, public markets, real estate, and infrastructure through its affiliate managers. Its Pavilion Capital heritage gives the platform deep limited partner relationships and a two-decade track record backing Asian private equity fund managers, which it now combines with the ability to scale capital and broaden investment solutions for institutional and third-party clients.
Overview: RRJ Capital is a leading private equity firm headquartered in Singapore, founded in 2011 by Richard Ong, with Charles Ong joining as Co-Chairman and Co-CEO in 2012. The firm manages approximately US$11 billion and is recognized for its ability to execute large-scale and complex transactions across Asia, Europe, and the United States. With a highly experienced team and strong networks, RRJ has established itself as one of Asia's most influential independent private equity firms.
Focus: RRJ Capital invests across industries including healthcare, energy, financial services, consumer, and technology. It targets significant equity positions in companies with scalable platforms and global ambitions. The firm's investment philosophy emphasizes long-term partnerships, operational expertise, and geographic diversification, allowing it to participate in some of Asia's most transformative private equity deals.
Overview: Axiom Asia Private Capital is a Singapore-based private equity investment firm founded in 2006. The firm manages ten private equity funds with total commitments of over US$9 billion, and it serves a global base of institutional investors including endowments, family offices, pensions, and foundations. Axiom is well-known as a fund-of-funds specialist in Asia Pacific while also doing co-investments and participating in secondaries.
Focus: Axiom Asia focuses on the Asia Pacific region, especially mid-market private equity funds across buyouts, growth, and venture capital. It invests via country-specific funds with proven track records, alongside "next-gen" managers raising early funds. It also does direct investing/co-investments, participates actively in the secondaries market, and places strong emphasis on ESG / responsible investment practices.
Overview: Granite Asia is a Singapore-based multi-asset investment platform with over two decades of experience and more than US$10 billion in assets under management. The firm partners with visionary founders and businesses across Asia, providing bespoke financing structures that go beyond traditional equity and debt to support growth across cycles. With a strong presence in high-growth markets, Granite Asia emphasizes long-term partnerships and regional expertise to amplify business potential and create enduring value.
Focus: Granite Asia invests in themes shaped by Asia's structural growth and transformation, including consumer expansion, enterprise workflow and supply chain solutions, food systems and sustainability, health innovation and wellness, and energy transition and automation. Its strategy is centered on flexible capital solutions, operational support, and a thematic approach to capturing opportunities at the intersection of demographic change, technological advancement, and sustainable development across the region.
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Overview: 65 Equity Partners is a global investment firm backed by Temasek Holdings, with offices in Singapore, London, and San Francisco. The firm was launched to support high-growth businesses and dynamic founders in achieving long-term strategic objectives through patient, flexible capital. As a sovereign capital-backed investor, 65 Equity Partners operates with a strong institutional foundation while maintaining the agility of a private investment firm. It is purpose-built to bridge private capital with global ambition, focusing on enabling enduring value creation across Asia, Europe, and North America.
Focus: 65 Equity Partners targets investments in high-potential mid-market companies with enterprise values typically between $100 million and $1 billion. The firm takes significant minority or control positions, backing proven management teams and scalable platforms across sectors such as consumer, healthcare, industrials, technology, and financial services. Its strategy is anchored in partnership, offering not only growth capital but also strategic counsel, cross-border expansion support, and long-term alignment. With a flexible mandate and a focus on sustainability, 65 Equity Partners helps businesses scale responsibly while unlocking global market opportunities.
Overview: CBC Group is a Singapore-based, Asia-focused healthcare investment firm founded in 2014, widely regarded as the largest dedicated healthcare asset manager in Asia. The firm manages approximately US$4 billion and has offices spanning Shanghai, Beijing, Hong Kong, New York, Seoul, and Abu Dhabi. In May 2026, CBC announced a merger with London-based GHO Capital Partners, creating a combined platform with more than US$21 billion in assets under management across 13 offices in North America, Europe, and Asia Pacific.
Focus: CBC Group invests across pharmaceuticals, biotechnology, medical technology, and healthcare services, spanning platform-building, buyout, private credit, and growth-stage healthcare opportunities. The firm's strategy centers on sector specialization, combining global innovation with regional market access to build differentiated healthcare businesses addressing unmet medical needs across Asia and beyond.
Overview: Affirma Capital is an independent emerging-markets private equity firm headquartered in Singapore, formed in 2019 through a management buyout of Standard Chartered's private equity arm, led by its senior leadership team and backed by Intermediate Capital Group. The firm manages over US$4 billion and has deployed more than US$6 billion across over 100 companies since its predecessor platform began investing in 2002.
Focus: Affirma Capital targets buyout and growth investments across Korea, India, Southeast Asia, China, Africa, and the Middle East, with sector exposure spanning consumer goods, pharmaceuticals, energy, industrials, and financial services. The firm's investment philosophy is anchored in selective origination, disciplined deal structuring, and intensive portfolio management, helping build national and regional champions backed by strong founders and management teams.
Overview: CDH Investments is a private equity firm with a long-standing presence across Asia, managing approximately US$2.9 billion through a Singapore office that serves as a regional hub for the platform's activity across the region.
Focus: CDH Investments invests across private equity, venture capital, and credit strategies in Asian markets, with sector diversification across its portfolio. The firm targets established businesses with growth potential and credible paths to exit across the region's public and private markets.
Overview: Mandiri Investment Management is a private equity-focused investment manager with a Singapore presence, managing approximately US$2.6 billion and serving institutional and regional client bases.
Focus: Mandiri Investment Management pursues private equity strategies with a regional Southeast Asia orientation, supporting institutional investors seeking exposure to the region's growth markets.
AUM tells you how large a firm is. It doesn't tell you how its funds have actually performed. Joe, powered by Dakota, tracks net IRR, TVPI, and DPI across 18,000+ private funds, so you can benchmark any of these firms' funds against a true vintage-year and strategy peer group, not just a headline assets-under-management figure.
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