AllianzGI private markets AUM reaches €85bn

Allianz Global Investors today said its private markets assets under management have reached around €85bn, supported by the final close of its first global private debt fund at €3.3bn. The Allianz Global Diversified Private Debt Fund (AGDPDF) allows institutional investors to invest alongside Allianz insurance companies in a globally diversified portfolio of private debt funds and co-investments.

AGDPDF, which is structured for institutional investors, closed well above its €1.5bn target size after being oversubscribed. Allianz Global Investors said the vehicle, including related transaction structures, attracted strong demand from institutions across Europe.

Since the launch of Allianz Global Investors’ Global Private Debt platform in 2021, more than €4bn has been raised across several private debt strategies. Allianz Global Investors added that a successor strategy to AGDPDF was planned for launch in 2023.

Marc Smid is senior portfolio manager, private debt, at Allianz Global Investors. Allianz Global Investors said the AGDPDF structure gives external institutions access to the same global private debt programme used by Allianz insurance balance sheets. Allianz Global Investors reported that it managed around €85bn in private market assets as of April 2023, spanning private debt, infrastructure, renewables, trade finance and private equity. The firm said its private markets AUM had grown further to more than €97bn by the end of September, reflecting continued expansion across these strategies.

Allianz Global Investors’ infrastructure direct equity team was established in 2007 and later expanded to indirect investments in 2016. Its renewable energy team has been investing in wind and solar farms since 2005, and the firm launched a trade finance platform in 2019.

The private equity business has grown from €18.5bn of AUM in the fourth quarter of 2020 to around €30bn. Allianz Global Investors has also raised €705m for an impact private credit strategy, adding to its broader private markets platform.