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.
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“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.
