Azalea raises over $1.27b across three private equity funds

Fundraising includes the group’s first evergreen PE fund. 

Azalea Investment Management has raised more than $1.27b (US$1b) in new capital commitments across three private equity offerings.

The fundraising includes the $668.02m (US$526m) final close of Altrium Private Equity Fund III, the $266.7m (US$210m) first close of Altrium Co-Invest Fund II, and over $444.5m (US$350m) in initial commitments for its first evergreen private equity fund.

Altrium III completed its final close in June, targeting institutional and accredited investors and providing exposure to mid-market buyouts and secondaries globally.

The group said it received commitments from returning investors and investors from markets such as Hong Kong, Taiwan, South Korea, Malaysia, and the UK.

Meanwhile, Altrium Co-Invest Fund II held its first close at $266.7m (US$210m) in July. It provides investors with access to co-investments alongside private equity managers.

Its evergreen private equity fund, Azalea All Access, invests in a diversified portfolio of private equity secondaries and co-investments and uses a fully paid-in investment model.

The fund offers monthly subscriptions and quarterly redemptions, alongside the option for periodic distributions.

$1 = US$0.79