HONG KONG: A unit of Singapore state investment company Temasek Holdings raised US$510mil via bonds backed by its interests in private equity funds that co-invest with industry powerhouses such as Blackstone Group LP and KKR & Co.
Two of the tranches of the debt totalling US$440mil are listed, in a first for such notes in the country, according to a statement from Azalea Asset Management, which is wholly-owned by Temasek. The bonds were issued by Astrea III, a vehicle that holds interests in 34 private equity funds that is sponsored by an Azalea unit.
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