Azalea Investment Management Pte. Ltd. (Azalea) has announced the closings of its funds, Altrium Co-Invest Fund I (ACF I) and Altrium Growth Fund I (AGF I).
ACF I raised US$268 million ($345.0 million) while AGF I closed at US$212 million. Both closings surpassed the funds’ target sizes of US$200 million each.
According to Azalea, the funds attracted a diverse group of investors from Singapore, Hong Kong, Japan, Korea and the Middle East. They include institutions, private banks, family offices, external asset managers and high-net-worth individuals.
ACF I allows investors to co-invest along with top-performing private equity (PE) fund managers who have proven their ability to drive growth in recession-resilient companies with strong secular tailwinds.
On the other hand, AGF I gives investors access to top-tier early-stage growth and venture capital funds.
“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,” says Margaret Lui, CEO of Azalea.
“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,” adds Chue En Yaw, chief investment officer at Azalea.
Under Altrium, Azalea manages over US$2 billion in assets.
