AllianzGI´s first real estate private debt fund holds first close at EUR 515mn

Allianz SE | Munich | Apr 26, 2022

Allianz Global Real Estate Debt Opportunities Fund (AGREDO) for institutional clients holds first close at EUR 515mn only two months after its launch

With AGREDO professional clients can invest for the first time jointly with Allianz in a globally diversified portfolio of real estate private debt funds and co-investments

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Allianz Global Investors (AllianzGI) today announced the first close of the Allianz Global Real Estate Debt Opportunities Fund (AGREDO) at EUR 515mn. The fund that was launched in February 2022 is the first real estate private debt fund of AllianzGI. The AGREDO enables investors to invest alongside Allianz and aims to provide them with access to a globally diversified portfolio of higher yielding real estate debt opportunities with strong downside protection.

Allianz is one of the world’s leading real estate investors and built a real estate private debt fund portfolio of more than EUR 5bn assets under management over the last decade. With the launch of AGREDO, professional investors for the first time have the opportunity to join Allianz insurance companies in this strategy.

The AGREDO invests in real estate debt funds and co-investments that finance real estate assets and development projects globally. A high level of portfolio diversification is targeted by investing across geographies, segments, vintage years, sectors and financing situations. The AGREDO will invest in different sectors, including residential, logistics, and office, but also niche segments such as student housing or science parks. With at least 50% of the capital invested by Allianz in each future investment of the fund, there is strong alignment of interest with Allianz Group.

Alexander Schmitt, Senior Portfolio Manager at AllianzGI, said: “We are very delighted about the first close of the AGREDO within only a few weeks which underpins the trust our highly renowned clients have put in our platform. Investors in this strategy benefit from our global market access and long track record. As one of the earliest private debt investors we look forward to seizing many new investment opportunities in a globally diversified portfolio for our clients.”

The AGREDO is managed by the same investment team as the Allianz Global Diversified Private Debt Fund (AGDPDF) and follows a similar strategy – building a globally diversified portfolio of private debt funds and co-investments – but with a focus on real estate private debt instead of corporate private debt. The AGDPDF was launched in June 2021.

AllianzGI is offering a broad range of investment solutions and manages around EUR 93bn in private market assets.

About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 23 offices worldwide and managing EUR 673 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.
Active is: Allianz Global Investors

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.

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Stefan Lutz
Allianz Global Investors

+49 69 2443 1 4276

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Pia Groeger
Allianz Global Investors

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Klaus Papenbrock
Allianz Global Investors

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