Allianz Global Investors (AllianzGI) has reached the first milestone in the equity riase for Allianz Global Real Estate Debt Opportunities Fund.
The vehicle, which was launched in February 2022 as the first real estate private debt fund of AllianzGI, has just held a first close on EUR515 million. The strategy is to acquire higher yielding real estate debt opportunities with strong downside protection.
Allianz said investors could invest in real estate debt funds and co-investments that finance real estate assets and development projects globally. A high level of portfolio diversification has been offered across geographies, segments, vintage years, sectors and financing situations.
It has told investors that at least 50% of the capital invested by Allianz in each future fund will provide strong alignment of interest.
Alexander Schmitt, senior portfolio manager, said the company was delighted to hold a first close within only a few weeks.
Source: propertyeu.info on the 27th of April