Temasek-Backed Azalea raises $350 M for first Evergreen Private Equity Fund

Temasek-backed Azalea Investment Management Pte. Ltd. has launched Azalea All Access, its first evergreen private equity (PE) fund, securing $350 million in initial commitments from a select group of anchor investors.

In a statement released on Friday, the firm said the launch marks an important milestone in its strategy to develop innovative investment platforms and expand investor access to private equity.

The new fund builds on the success of Azalea’s Astrea and Altrium platforms and represents the next stage in the company’s platform development. As Azalea’s first evergreen fund, Azalea All Access has been created to address growing investor demand for flexible and long-term access to private equity investments.

The fund is designed to generate long-term capital appreciation while offering investors the option of receiving periodic distributions through a dedicated distributing share class.

Using a fully paid-in investment model, Azalea All Access provides immediate exposure from the outset to a diversified portfolio of private equity secondaries and co-investments managed by leading investment firms around the world.

Structured as an evergreen fund, it supports monthly subscriptions and quarterly redemptions, giving investors greater flexibility to access private equity while allowing returns to compound over the long term.

The fund attracted backing from a broad range of investors across Asia, including institutional investors, private banks, family offices, and high-net-worth individuals, reflecting rising demand for private equity solutions that combine institutional-quality investment opportunities with increased liquidity and flexibility.

“With Azalea All Access, we are introducing an evergreen fund that broadens our suite of private equity solutions and enables investors to build and maintain long-term exposure to the asset class,

“We are grateful to investors for their trust and support, which reflects the growing demand for more accessible private equity products,” said Chue En Yaw, Chief Executive Officer and Chief Investment Officer of Azalea.

Mark Hindriks, Managing Director of Investments and Head of the Azalea All Access platform at Azalea, said the new fund builds on the firm’s experience gained through its Astrea and Altrium platforms. According to him, Azalea All Access combines Astrea’s strengths in fund structuring, yield management, and liquidity planning with Altrium’s established expertise in private equity secondaries and co-investments.

“Through the longstanding network of relationships developed across both platforms, we are able to source and evaluate high-quality investment opportunities globally, providing a strong foundation for Azalea All Access to continue deploying capital and delivering the returns,” he added.

As an evergreen fund, Azalea All Access gives eligible investors the flexibility to subscribe on a monthly basis and redeem their investments quarterly, making it easier to build, manage, and grow long-term exposure to private equity over time.