Allstate is growing its investment strategy into opportunistic investment opportunities for the first time in real estate, infrastructure and agribusiness.
The life company declined to state how much capital it would set aside for the global strategy.
Allstate, which in the past had only made investments through a core strategy, will be investing in primary and secondary markets as part of the company’s ongoing initiative to increase the returns and scope of its alternative investment portfolio, which includes real estate, infrastructure, agribusiness and private equity.
The investment in the opportunistic sector could be between $25m (€23.4m) and $100m and include bridge and growth capital, recapitalisations and acquisitions and refinancings.
According to its website, the life company has 66% of its portfolio in the US, 27% global, 3% in Europe, 2% in Asia and 2% in Latin America.
Allstate typically invests in real estate through direct strategies and fund structures.
As of June of last year, the investor had made 59% of its real estate investments on a direct basis and 41% through funds.
Some of the capital can be invested through separate accounts for office and apartment assets.
Deals can involve joint ventures, co-investments and straight acquisitions.
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