SINGAPORE (June 11): Azalea Investment Management, a Temasek Holdings subsidiary, has launched what is believed to be the world’s first listed private-equity bond for retail investors. Previously, private-equity investments were almost exclusively the domain of sophisticated investors and institutions. Bonds sold locally had to be in tranches of at least $200,000. The Astrea IV Bonds, as the offering is called, will be available for subscription at a minimum of $2,000 each.

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