Azalea’s Altrium funds close at over US$200 million each
Both funds have attracted investors that include institutions, private banks, family offices, external asset managers and high-net-worth individuals
AZALEA Investment Management has announced the final closings of its two Altrium funds, with both surpassing their respective target fund sizes of US$200 million.
On Tuesday (Oct 1), Azalea said its Altrium Co-Invest Fund I (ACF I) raised US$268 million, while Altrium Growth Fund I (AGF I) closed with US$212 million in commitments.
Both funds attracted a “diverse group of investors” that included institutions, private banks, family offices, external asset managers and high-net-worth individuals across Singapore, Hong Kong, Japan, South Korea and the Middle East, said Azalea.
Its chief investment officer Chue En Yaw said the company “invests significantly” in both funds as their sponsor.
ACF I and AGF I are the latest to join Altrium’s suite of products, on top of Azalea’s flagship buyout-focused funds and sustainability fund.
According to Azalea and Altrium, ACF I enables investors to co-invest alongside “top-performing private equity (PE) fund managers with proven ability to drive growth in companies that are recession resilient and have strong secular tailwinds”.
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On the other hand, AGF I “provides investors with privileged access to top-tier early-stage growth and venture capital funds”.
Azalea Investment is the management arm of Azalea Group and a wholly owned subsidiary of Azalea Asset Management, which is in turn indirectly owned by Temasek.
It manages over US$2 billion in assets under its Altrium platform.
Azalea also sponsors and manages the Astrea platform, with the most recent launch being Astrea 8 in July 2024.
Another two of the Astrea PE bond series have been fully redeemed.
