15 September 2021 Allianz Global Investors (AllianzGI) today announced the first close of the Allianz Global Diversified Private Debt Fund (AGDPDF). The fund allows institutional investors for the first time to invest jointly with Allianz in its global private debt program. The AGDPDF received very large interest from investors and holds its first close only two months after its launch with commitments exceeding EUR 500mn end of August. The AGDPDF will invest in leading private debt fund managers and will pursue co-investments alongside such managers globally. The target size of the fund amounts to EUR 1.5bn.
Allianz´s first global private debt fund holds first close at EUR 500mn
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As one of the largest institutional investors globally, Allianz has been investing on behalf of Allianz insurance companies in private debt for more than a decade. During this time, Allianz has built a highly diversified portfolio across various sectors and regions of EUR 20bn assets under management. For the first time, professional investors have the opportunity to join Allianz insurance companies in the Allianz Group´s private debt program.
The AGDPDF will pursue primary fund commitments and co-investments globally and will invest in leading fund managers with a proven track record. Allianz will provide at least 50% of the capital invested in each transaction of the AGDPDF hence ensuring strong alignment of interests. The AGDPDF will invest predominantly in middle-market corporate debt in North America and Europe. Goal of the strategy is to build a well-diversified portfolio across geographies, segments, vintage years, sectors, and company types in order to deliver attractive risk-adjusted returns with significant cash yield.
Dr. Sebastian Schroff, Global Head of Private Debt at Allianz Investment Management and Lead Portfolio Manager at AllianzGI, said: “We are very pleased that we opened for the first time the global private debt program of Allianz to our institutional clients. Professional investors benefit from our unique market access and longstanding track record investing together with Allianz. The AGDPDF aims to select the best possible investment opportunities globally, and we actively manage all investments throughout their entire life cycle following a long-term partnership approach.”
Earlier this year, Allianz Capital Partners, which is part of Allianz Global Investors, had launched the Allianz Private Equity Fund that allows investors to participate in Allianz´s private equity program.
AllianzGI is offering a broad range of alternative investment solutions. AllianzGI manages EUR 88bn of alternative assets.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 533 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Data as at 31 December 2023. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 737 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of December 31, 2023.
** As of December 31, 2023.
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