Azalea Investment Management (Azalea) has held the first closings of the Altrium Co-Invest Fund I (ACF I) and Altrium Growth Fund I (AGF I) with a combined $356m in capital commitments from institutions, family offices and high-net-worth individuals.
ACF I, which has raised $200m, offers investors the opportunity to co-invest alongside renowned and high-performing private equity fund managers with strong operational and M&A capabilities, while AGF I, which has attracted $156m, invests in top-tier growth and venture capital funds and maintains a global mandate with a strong focus on the US.
Given the recalibration in valuations and emergence of new trends such as artificial intelligence, Azalea believes that the fund is poised to invest during an opportune time in the growth and venture capital markets.
Azalea plans to hold the final closings of both funds in 2024.
