Final close of global Allianz infrastructure fund at over 1 billion euros
Allianz Global Diversified Infrastructure Equity Fund, managed by Allianz Capital Partners, achieves its final close at over EUR 1bn / Despite the disruptions caused by the pandemic, the final close was achieved within less than a year of launch / First close was held in July 2020 with commitments exceeding EUR 600mn.
Allianz Global Investors (AllianzGI) today announced the final close of the Allianz Global Diversified Infrastructure Equity Fund (AGDIEF), which was held at the end of December 2020, at over EUR 1bn. The AGDIEF was launched in early 2020. Due to strong demand from institutional investors across Europe, the fund, managed by Allianz Capital Partners (ACP), exceeded its target size of EUR 900mn within eleven months. The first close was held in July 2020 with commitments of more than EUR 600mn.
The AGDIEF invests in leading diversified and specialist infrastructure funds via both primary commitments and secondary transactions and pursues co-investments alongside like-minded fund managers. The AGDIEF will build a global and diversified infrastructure portfolio across the energy, transportation, communication, environmental and social sectors. Through AGDIEF, institutional clients will for the first time be able to build a portfolio of equity investments alongside Allianz insurance companies in a multi-billion euros program to invest in infrastructure globally. The fund is pursuing a co-investment approach with Allianz whereby Allianz will commit at least half of the capital to each target investment alongside AGDIEF’s third-party clients. This approach ensures strong alignment of interest between Allianz and investors in the AGDIEF.
“We are delighted about the successful close of our first global infrastructure equity fund in a short period of time. Due to the disruptions caused by the pandemic, interactions with investors were limited to phone calls and video conferences early on. We are grateful for the significant interest from investors across Europe. Despite the challenging environment, we continue to execute on attractive investment opportunities globally and look forward to seizing further ones on behalf of our investors,” says Yves Meyer-Bülow, Head of Infrastructure Funds and Co-Investments at Allianz Capital Partners.
ACP is a major international financial investor with more than EUR 17bn Assets under Management in infrastructure and re-newable energy equity that have been invested primarily on behalf of Allianz insurance companies for more than a decade. In total ACP manages over EUR 35bn of alternative equity assets across private equity, infrastructure and renewable energy. ACP and AllianzGI together manage around EUR 80bn of alternative assets.