Allianz World Traders has raised €560m (£472m) on the first shut of its impression non-public credit score technique, reaching greater than half of its goal measurement inside a couple of months.
The programme, which contains the Allianz Earnings and Progress and Allianz World Synthetic Intelligence funds, has secured commitments from a spread of institutional traders together with Allianz, APG Asset Administration, the European Funding Fund (EIF) and La France Mutualiste.
Allianz World Traders’ impression non-public credit score technique gives impression direct lending options to European SMEs which can be offering options to environmental and social challenges. It focuses on three core themes: local weather change, planetary boundaries and inclusive capitalism.
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“The primary closing of our impression non-public credit score technique highlights our added worth within the present European direct lending market providing, particularly for first time funds,” stated Alexandra Tixier, lead portfolio supervisor of the impression non-public credit score technique.
“Though impression investing by non-public debt is comparatively new, it’s gaining momentum as a result of regulatory modifications, next-gen traits and societal stress to “do good” with investments. As traders more and more prioritise engagement in direction of net-zero, extra accountable investments and higher transparency, impression investing is rising as an important new allocation development in non-public debt.”
The technique is managed by a crew based mostly in London, Zurich and Paris. It’s a co-creation between the event and impression credit score crew headed by Nadia Nikolova and the impression technique crew led by Diane Mak.
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The 2 funds have an impact-linked efficiency charge mechanism, that means that a part of the returns are associated to the achievement of particular impression targets along with the requirement of the monetary hurdle being met.
“We’re happy to assist this new fund addressing the distinctive financing wants of impact-driven SMEs, which is aligned with the targets of the EIF and the InvestEU initiative,” stated Marjut Falkstedt, chief govt of the EIF.
“We’re eager on supporting the expansion of firms whose merchandise, providers, and enterprise practices contribute positively to social and environmental issues. Collectively we’re paving the way in which for a extra sustainable future for all.”
Learn extra: AllianzGI raises €300m in first closing of recent non-public credit score impression fund