Azalea Investment Management Pte. Ltd. (“Azalea”) is pleased to announce the successful final closings of Altrium Co-Invest Fund I (“ACF I”) and Altrium Growth Fund I (“AGF I”). ACF I raised US$268 million and AGF I closed with US$212 million in commitments, both surpassing their respective target fund sizes of US$200 million.
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Both ACF I and AGF I attracted a diverse group of investors, including institutions, private banks, family offices, external asset managers and high-net-worth individuals. These investors are from Singapore, Hong Kong, Japan, Korea and the Middle East. This underscores Azalea’s strategic intent to nurture global relationships and be a trusted partner in private equity (“PE”) for investors.
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Margaret Lui, Chief Executive Officer of Azalea, said, “This milestone stands as a testament to the confidence investors place in Azalea’s expertise to unlock opportunities amid an investment landscape marked by volatility and uncertainty.”
ACF I enables investors to co-invest alongside top-performing PE fund managers with proven ability to drive growth in companies that are recession resilient and have strong secular tailwinds. AGF I provides investors with privileged access to top-tier early-stage growth and venture capital funds. Both funds capitalise on Azalea’s wide networks and being part of the Temasek ecosystem to source for good deals and offer attractive returns to investors.
Chue En Yaw, Chief Investment Officer at Azalea, said, “Azalea remains committed to developing innovative investment solutions to broaden investor access to PE. In both ACF I and AGF I, similar to all Altrium products, Azalea invests significantly as a sponsor alongside investors, demonstrating our long-term alignment with investors’ interests.”
ACF I and AGF I mark the latest expansion of the Altrium product suite, adding on to Azalea’s flagship buyout-focused funds and sustainability fund. The broad range of strategies meets the evolving needs of investors at various stages of their PE journey – whether they are building a strong foundation in PE investments, seeking higher returns from growth funds or pursuing meaningful impact without sacrificing financial returns. Under the Altrium Platform, Azalea currently manages more than US$2 billion in assets.
About Azalea Investment Management
Set up in 2015, Azalea is a wholly-owned subsidiary of Seviora, and indirectly owned by Temasek Holdings (Private) Limited. Azalea is in the business of investing in private equity (“PE”), with a focus on the development and innovation of new investment platforms and products. Its goal is to bring private assets to a wider investor base through a phased approach, starting with PE. It is also committed to educating the investing public.
Starting with Astrea IV, the Astrea platform has placed these listed bonds into the hands of retail investors in Singapore, allowing them to use these PE bonds to diversify their portfolios.
In 2019, the first Altrium PE fund of funds was launched, allowing local accredited investors access to high quality private equity managers. Altrium was designed for wider participation by lowering the investment amount and holding period.
