Allianz has closed its global Allianz Private Debt Secondaries Fund (APDS) at €1.5bn (£1.26bn), exceeding its initial target size of €500m, according to a report by Alternative Credit Investor.
Launched in September 2022, the APDS marks AllianzGI’s inaugural secondaries fund, focusing on senior direct lending opportunities along with opportunistic positions. Its goal is to build a well-diversified portfolio across various managers, sectors, and regions.
Institutional investors in APDS will be able to use AllianzGI’s primary and co-investment activities in private debt to gain access to secondary opportunities across the US, Europe, and Asia.
“We expect private debt secondaries to grow further in the next years and are grateful for the trust from so many institutional clients,” said Allianz Private Debt Secondaries Senior Portfolio Managers Joaquín Ardit and Anselm Feigenbutz.
AllianzGI manages more than €90bn in private markets. A successor strategy is scheduled for launch mid-year.
