Allianz Global Investors (AllianzGI) has raised an initial €533m for its latest infrastructure debt fund.
The Allianz Infrastructure Credit Opportunities Fund II (AICOF II) – the successor to the Allianz Resilient Opportunistic Credit Fund – intends to generate attractive risk-adjusted returns through direct and indirect investments in infrastructure-backed senior-secured, second-lien and subordinated debt.
The previous fund, which closed in December 2023 with €455m in commitments, has been 90% deployed or committed to investments, AllianzGI said.
AICOF II, launched in June 2024, is designed to invest across the capital structure in energy, transport, communication, environmental and social infrastructure sectors and sub-segments.
Claus Fintzen, CIO of infrastructure debt at AllianzGI, said: “After over a decade of investing, we can now look back on over 150 transactions in more than 20 countries. Against the light of large investments needed to bridge the infrastructure gap and the current interest rate environment, we see attractive investment opportunities for institutional investors in building the infrastructure for tomorrow.”
Tom Lees, infrastructure debt senior portfolio manager at AllianzGI, said: “We are very grateful for the strong interest in the AICOF II. With this addition to our infrastructure debt offering, we aim to provide investors with access to the full range of infrastructure debt sectors across the entire capital structure and high-yielding return potential.”
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