Allianz hold first close of energy transition debt fund on €220m

The fund is targeting €750m and is the firm’s first vehicle dedicated to energy transition debt.

Allianz Global Investors has held a first close of its infrastructure and energy transition debt fund on €220m.

The Allianz Global Infrastructure and Energy Transition Debt Fund launched two months ago and is seeking a total of €750 million. Allianz acted as an anchor investor with commitments from its insurance fund portfolio, and has raised additional capital from institutional investors across Europe.

The vehicle is AllianzGI’s first dedicated to infrastructure and energy transition debt and will be classified as an Article 8 fund under the EU’s SFDR. It will offer institutional investors exposure to primary and secondary funds and co-investments across regions and infrastructure sectors.

The vehicle will be managed by the same team that manages the Allianz Global Diversified Private Debt Fund, the Allianz Global Real Estate Debt Opportunities Fund, and the Allianz Private Debt Secondaries Fund.

Alexander Schmitt, senior portfolio manager at AllianzGI, said: “The safety of energy supply and the energy transition are in focus today. Private investors can play a vital role here.”