Allianz Global Investors has raised an initial €550m for its latest global diversified infrastructure equity fund.
Allianz said the Allianz Global Diversified Infrastructure Equity Fund II (AGDIEF II) fund’s first close was backed by institutional clients in Europe.
AGDIEF II, managed by Allianz Capital Partners (ACP), will make equity investments jointly with Allianz in a diversified global portfolio of core, core-plus and selectively value-add infrastructure investments through primary commitments to infrastructure funds, secondary transactions and co-investments. Allianz said it will typically contribute at least 50% of the capital to each transaction.
AGDIEF II is expected to target infrastructure assets including energy, communication and transportation as well as social and environmental infrastructure.
Yves Meyer-Bülow, the head of infrastructure funds and co-investments at Allianz Capital Partners, said: “We are grateful for the strong interest in the AGDIEF II from so many prior and new institutional investors.
”The AGDIEF II aims to deliver attractive risk-adjusted returns for our investors by providing exposure to compelling infrastructure funds, secondaries and co-investments alongside Allianz globally.”
The predecessor fund, the Allianz Global Diversified Infrastructure Equity Fund, raised over €1bn in 2020, of which more than 90% are already invested.
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