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Allianz looking to raise €1.5bn for new private credit fund

Allianz Global Investors, global financial services and insurance group Allianz’s money management division, is looking to raise at least €1.5bn a new global private credit fund by tapping into increased investor demand for exposure to the asset class, according to a report by Reuters.

The report cites company filing as revealing that the company established the Allianz Global Diversified Private Debt Fund (AGDPDF) II in Luxembourg in mid-June, with a first close planned before the end of the year, according to a spokesperson for Allianz Global Investors, at which point it will begin making investments.

Allianz raised €3.3bn for an previous fund which closed in April, way in excess of its original €1.5bn target. Rather than lending directly, that fund invests in other credit funds and also makes co-investments.

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