<article><a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/temasek-china-pe-hosen-buy-quadrants-majority-stake-australias-real-pet-food-84862/" target="_blank" rel="noopener">Temasek</a>-backed Azalea Investments is preparing to launch its latest fund <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/singaporetemase-bonds-facilitate-retail-investor-access-to-private-eqiuty-43702/" target="_blank" rel="noopener">Astrea</a> IV, a co-investment vehicle with diversified assets built on a portfolio of private equity funds.</article>

<a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/temasek-china-pe-hosen-buy-quadrants-majority-stake-australias-real-pet-food-84862/" target="_blank" rel="noopener">Temasek</a>-backed Azalea Investments is preparing to launch its latest fund <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/singaporetemase-bonds-facilitate-retail-investor-access-to-private-eqiuty-43702/" target="_blank" rel="noopener">Astrea</a> IV, a co-investment vehicle with diversified assets built on a portfolio of private equity funds.
According to a report from Secondaries Investor on Wednesday, the vehicle was registered with Singapore Accounting and Corporate Regulatory authority in August. However, the timing for the launch and the structure of the collateralised fund have not yet been finalized, the report added.
It added that Temasek, which has been acquiring stakes in the secondaries market, also intends to use these assets for Astrea IV.
A Temasek spokesperson declined to comment on an emailed query by this portal on the fund&#8217;s structure and time of launch.
This fund, the fourth in the series, will follow Temasek&#8217;s previous Astrea III that was launched in June last year. It was a fund which claimed to be Singapore&#8217;s first listed private equity bonds with a $510-million issue that was built on a portfolio of 34 Private Equity funds managed by 26 established fund managers.
The fund provided an exposure to over 590 companies across Asia, Europe and US. Sponsored by Temasek&#8217;s Azalea Asset Management, it was managed by Fullerton Fund Management, another arm of Temasek.
At that time, in a statement, Azalea chief executive Margaret Lui had said, &#8220;Astrea III is a step towards achieving our vision of broadening the co-investor base for our diversified portfolios of private equity funds. We are actively exploring suitable opportunities for retail investors to participate in private equity-based products in the future.&#8221;
The investment company had earlier in 2014 launched Astrea II that had diversified holdings in 36 private equity funds with Temasek itself being the single largest investor in Astrea II at 38 per cent.
An active investor in private equity funds globally for over two decades, Temasek had kicked off the first of a series of private equity co-investment platforms with Astrea I in 2006 with a diversified and balanced portfolio of selected Temasek interests in high-quality private equity funds.
Temasek with a portfolio worth over $197 billion in Singapore and the rest of Asia invests in a broad spectrum of industries: financial services; telecommunications, media &amp; technology; transportation &amp; industrials; consumer &amp; real estate; life sciences &amp; agribusiness; as well as energy &amp; resources.
For the previous fund Astrea III, Credit Suisse, DBS Bank and PJT Partners/Park Hill worked on the bond issuance and structuring of Astrea III. It has not been known if the same insitutions are working on the fourth fund.
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Temasek-backed Azalea to launch latest fund Astrea IV: Report

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