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. 

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.