Singapore-headquartered Azalea Investment Management has held a first close or its debut ESG-focused fund-of-funds, Altrium Sustainability Fund I (ASF I), with initial commitments of USD 50m each from the Azalea Group and Singlife with Aviva.
Management of the German industrial fixings supplier will reinvest with a minority stake
Management and founders will retain a 25% stake in the Spanish IT services group; bolt-ons planned under new owner
Around 40% larger than its predecessor, the new fund was raised in less than six months, managing director Johanna Barr tells Unquote
New majority owner will seek to expand the Finnish green building services specialist across Europe