Allianz announced that the Allianz Private Debt Secondaries Fund (APDS) held the final close at €1.5 billion, including related transaction vehicles. And the APDS enables institutional clients to invest in secondary opportunities targeting the US, Europe, and Asia. The launch of the successor strategy is planned for the middle of this year.
This fund, launched in September 2022, is the first secondaries fund of AllianzGI. The APDS invests in senior direct lending opportunities, selectively complemented by opportunistic positions, and aims to build a diversified portfolio across managers, sectors, and geographies.
Due to strong interest from international institutional investors and Allianz as strong anchor investor, the secondaries fund was heavily oversubscribed and exceeded the initial €500 million target fund size.
The APDS’ institutional investors can utilize AllianzGI’s strong private debt primary and co-investment activities and invest due to its large international network in secondary opportunities targeting the US, Europe, and Asia.
KEY QUOTES:
“The market for private debt secondaries is being established and we were one of the first asset managers to launch a fund for this strategy. We are very proud of the strong interest we have seen from many international institutional investors for our first secondaries fund that allows investors to benefit from the strong position of Allianz as one of the leading private debt investors globally.”
– Edouard Jozan, Head of Distribution Europe
“We expect private debt secondaries to grow further in the next years and are grateful for the trust from so many institutional clients. With over 15 years of investing experience, we can rely on a strong network and market access that helped us to commit a significant portfolio for the APDS already. As one of the frontrunners in the market, we look forward to sourcing further attractive investment opportunities while we are working on the launch of a successor strategy that is envisaged for mid of 2025.”
– Joaquín Ardit and Anselm Feigenbutz, Senior Portfolio Managers Allianz Private Debt Secondaries
