About This Fund
Altrium Private Equity Fund III is a private equity fund managed by Azalea Investment Management, the Singapore-based PE platform linked to Seviora Holdings, an indirect subsidiary of Temasek. It is the third vehicle in the Altrium PE Fund series and the latest offering within Azalea's Altrium platform, which aims to democratize access to top-performing private equity fund managers for institutional and accredited investors in Singapore and the broader Asia-Pacific region.
The fund operates as a fund-of-funds and secondaries vehicle, investing in primary commitments to top-performing global PE funds and in secondary market interests in private equity portfolios. This blended approach combines the diversification and GP relationship benefits of traditional fund-of-funds investing with the discount acquisition potential and accelerated J-curve of secondaries. Azalea's investment team selects underlying PE managers based on track record, team depth, portfolio construction discipline, and alignment of interest, with a global mandate that spans North America, Europe, and Asia.
Altrium Private Equity Fund III reached its first close at $262 million in April 2025, supported by commitments from institutional investors and high-net-worth individuals, with significant re-investment from participants in the prior Altrium PE Fund vehicles. The fund contributes to the Altrium platform's total assets under management of $2.3 billion across all vehicles, including the Altrium Co-Invest Fund, Altrium Growth Fund, and Altrium Sustainability Fund. The first close milestone reflects continued LP confidence in Azalea's ability to deliver institutional-quality private equity access to the Singapore investor base.