AllianzGI raises €300m in first closing of latest non-public credit score affect fund

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Allianz World Buyers has raised €300m (£257m) from roughly 10 European buyers within the first closing of its newest European non-public credit score affect fund.

The European Non-public Credit score III – Make investments for Constructive Change fund is reserved for institutional purchasers solely, and affords the chance to speculate alongside Allianz within the senior debt of medium-sized firms throughout continental Europe.

The fund additionally has an goal to assist these firms to undertake higher environmental, social and company governance (ESG) practices.

Learn extra: Influence credit score funds develop in reputation

The fund has a goal of €750m, and a tough cap of €1bn. It’s the successor to AllianzGI’s European Non-public Credit score II, which additionally invests in medium-sized European firms.

“The deployment of the European Non-public Credit score III, which is now nearly 90 per cent invested, has demonstrated the relevance of our method from the perspective of each buyers and debtors,” stated Damien Guichard, head of European non-public credit score at AllianzGI.

Learn extra: KSL Capital non-public credit score fund beats goal with $1.26bn increase

“Thanks the belief of our buyers demonstrated by our current fundraisings, our complete dedication capability for every transaction exceeds €100m.

“This permits AllianzGI to facilitate and safe transactions in an surroundings that is still unstable.”

The brand new fund is managed by AllianzGI’s European non-public credit score funding crew, which is led by Guichard and based mostly in Paris and Munich. It has accomplished nearly 100 mid-market transactions throughout Europe and presently manages roughly €9bn for Allianz and third-party buyers.

Learn extra: Ares set to shut largest ever direct lending fund



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