SEA Deal Ticker
Most of Temasek-backed Azalea's new $1B buys other people's positions, not new companies
Azalea Investment Management gathered over $1 billion across three vehicles: Altrium Private Equity Fund III at $526 million, Altrium Co-Invest Fund II at $210 million, and Azalea All Access, its first evergreen fund, at $350 million.
Positive-sum angle: The evergreen structure takes monthly subscriptions and quarterly redemptions, which puts private-equity secondaries within reach of Asian family offices that were never going to lock capital away for ten years.