Azalea Investment Management, a subsidiary of Seviora Holdings, has launched its first private equity evergreen fund with $350 million in initial commitments.
The fund, called Azalea All Access, will enable access for accredited investors to a portfolio of private equity secondaries and co-investments by managers globally.
Azalea said in a statement that the first commitments came from anchor investors in Asia, including institutional investors, private banks, family offices and high-net-worth individuals.
The strategy is led by Mark Hindriks, the firm’s managing director of investments.
“Azalea All Access builds on our experience across the Astrea and Altrium platforms. It integrates Astrea’s capabilities in structuring, yield management and liquidity planning with Altrium’s established investment expertise across secondaries and co-investments,” said Hindriks.
Azalea’s Altrium platform allows accredited investors to invest in its fund-of-funds portfolio. The platform manages more than $2.3 billion in assets.
Meanwhile, the Astrea bond programme, a series of investment products based on diversified portfolios of PE funds, had $1.7 billion in portfolio value by January 2026. Started in 2006, there are nine in the series to date, with Astrea 9 being the latest addition to the Astrea platform.
The proliferation of wealth and a growing trend of intergenerational wealth transfers in Asia are luring global asset managers to launch evergreen products targeting clients in the region.
As such, there is demand for more sophisticated investment strategies, StepStone Private Wealth’s Partner Neil Menard told DealStreetAsia recently, adding that Asia is a key strategic growth market for the firm.
