Azalea closes Altrium Private Equity Fund I on $650m

Launched just three months ago, the fund has surpassed its initial target of $400m.

Prior to Altrium, Azalea launched the Astrea platform in 2016. The platform consists of a series of private equity bonds backed by portfolios of investments in PE funds. This platform was Azalea's first product through which retail investors with exposure to PE.

Azalea is a wholly owned subsidiary of Temasek Holdings.

Investors
Institutional investors, including endowments and foundations, as well as family offices and high-net-worth individuals have backed the fund-of-funds.

Eligible investors were able to commit from as low as $200,000. Altrium offers to its LPs a shorter investment tenure than typical PE funds-of-funds, according to a statement.  

Investments
The fund will invest in primary and secondary private equity funds across the US, Europe and Asia, with a focus on buyout and growth strategies.

People
Azalea – Margaret Lui (CEO); Chue En Yaw (managing director, head of private equity funds).

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