Allianz Global Investors (AllianzGI) has secured $744m in commitments at the first close of its latest Asia Pacific-focused private credit strategy, highlighting continued investor appetite for private lending opportunities across the region, according to a report by Bloomberg.
The Allianz Asia Pacific Secured Lending Fund III will reportedly target mid-market opportunities, providing financing to high-growth businesses across Southeast Asia, South Asia, Oceania and selected Asia Pacific markets, excluding China. The close exceeds the $610m raised in 2023 for AllianzGI’s predecessor APAC private credit vehicle.
Asia remains a small segment of the global private credit market, although it is growing quickly in countries such as India. The fundraising also comes amid the launch of new strategies across the market, with firms including Varde Partners and Elham Credit Partners pursuing new private debt funds.
Earlier this year, AllianzGI also completed a $270m first close for a separate Asia Pacific private credit strategy focused on infrastructure investment.
