Azalea Investment Management Pte. Ltd. (Azalea) has launched the Altrium Sustainability Fund I (ASF I), which will invest in environmental, social and governance (ESG) focused opportunities to achieve positive environmental and social outcomes alongside private equity financial returns. ASF I is a PE fund-of-funds product that enables institutional and other accredited investors to build an ESG-focused investment portfolio. It is co-seeded by sponsor, the Azalea Group, together with homegrown financial services company Singlife with Aviva. Each party has committed $50 million to kick off the fund.