About This Fund
Altrium Co-Invest Fund I (ACF I) is a co-investment fund managed by Azalea Investment Management, the private equity platform linked to Seviora Holdings, itself an indirect subsidiary of Temasek, Singapore's state-owned investment firm. The fund was designed to offer accredited investors the opportunity to co-invest alongside leading private equity fund managers globally, gaining exposure to individual portfolio company transactions at the deal level without taking on the J-curve and blind pool risk of traditional LP commitments.
The fund's investment strategy is sector- and geography-agnostic at the vehicle level, following the deal flow generated by Azalea's broad network of institutional private equity relationships. Co-investment positions are selected based on the quality and track record of the sponsoring GP, the attractiveness of the individual transaction, and alignment with the ACF I portfolio construction objectives. This approach enables the fund to build a diversified portfolio of direct co-investments alongside top-performing buyout, growth equity, and infrastructure managers from a single fund vehicle, with the operational support and due diligence capabilities of Azalea acting as a co-GP.
Altrium Co-Invest Fund I achieved a final close of $268 million, surpassing its original target of $200 million and representing strong demand from institutional investors and high-net-worth individuals, including many who participated in Azalea's prior Altrium vehicles. The fund forms part of the broader Altrium platform, which includes the Altrium Private Equity Fund, Altrium Growth Fund, and Altrium Sustainability Fund, with the platform's total assets under management reaching $2.3 billion. Many prior investors from earlier Altrium funds re-invested in ACF I, reflecting the LP community's confidence in Azalea's co-investment capabilities and deal access.