Temasek Subsidiary Azalea Investment Management Launches ESG PE Fund of Funds

Posted on 04/01/2022

Singapore-based private equity manager Azalea Investment Management Pte. Ltd. launched the Altrium Sustainability Fund I. The fund will invest in environmental, social, and governance (ESG) focused opportunities to achieve positive environmental and social outcomes alongside private equity financial returns.

Altrium Sustainability Fund I is a private equity fund-of-funds product that enables institutional and other accredited investors to build an ESG-focused investment portfolio. The fund is co-seeded by sponsor, the Azalea Group, together with Singlife with Aviva. Singlife with Aviva was formed by the merger of Aviva Singapore and Singlife.

Each party has committed US$ 50 million to kick off the fund.

ASF I is focused on funds with managers that invest in companies that not only incorporate ESG factors in business decisions, but are also committed to investing purposefully to create lasting positive environmental and social impact. ASF I will back funds which invest in scalable, commercial solutions to solve pressing issues across its five core themes of climate, resource management, healthcare, education, and financial inclusion. Azalea will select fund managers that address the global challenges encapsulated in the United Nations (UN) Sustainable Development Goals for ASF I. The fund will focus primarily on buyout and growth strategies, leveraging on the strength and technical expertise of these managers to generate private equity market returns.

Azalea Investment Management is a unit of Temasek Holdings.

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