Temasek's Azalea plans evergreen private equity fund, CEO says
newsare.net
SINGAPORE — Azalea, a unit of Singapore-based asset manager Seviora Holdings and indirectly owned by state investor Temasek, plans to launch an evergreen private equity fund later this year depending on market conditions, its top executive told Reuters.CEOTemasek's Azalea plans evergreen private equity fund, CEO says
SINGAPORE — Azalea, a unit of Singapore-based asset manager Seviora Holdings and indirectly owned by state investor Temasek, plans to launch an evergreen private equity fund later this year depending on market conditions, its top executive told Reuters.CEO and Chief Investment Officer Chue En Yaw said in a recent interview that the plan is part of the asset manager's mission to broaden access to private equity. Evergreen private equity funds are open-ended vehicles without a fixed end date, unlike traditional private equity funds that typically have a set lifespan.Under current Singapore regulations, only institutional and accredited investors, meaning investors who meet specified income, net worth or asset thresholds, can invest in private assets, according to Chue.Azalea was set up in 2015 to make private equity available to a wider pool of investors.Chue said Azalea is developing the product amid possible regulatory changes in Singapore that could eventually allow wider retail participation in long-term private market products.Retail access in Singapore would depend on future regulatory developments, he added. Read more
