AllianzGI announces the first closing of its ”European Private Credit III - Invest for Positive Change” fund
- The “European Private Credit III - Invest for Positive Change” fund, reserved for institutional clients, raised €300 million in its first closing from around ten European investors
- “EPC III - Invest for Positive Change” offers investors the opportunity to invest alongside Allianz in senior debt of medium-sized companies in Continental Europe
- The fund's extra-financial objective is to help medium-sized companies adopt better ESG practices
18.01.2024 | Allianz Global Investors, one of the world's leading active asset managers, announces the first closing of its “European Private Credit III Invest for Positive Change” fund (EPC III) launched in November 2023 with €300 million in commitments raised.
EPC III has a target of raising €750 million (with a hard cap of €1,000 million).
Like its predecessor EPC II, “EPC III - Invest for Positive Change” offers investors the opportunity to invest alongside Allianz in senior debt of medium-sized companies in Continental Europe. EPC III is classified under article 81 and has the extra-financial objective of helping medium-sized companies to improve their ESG practices. The target companies (from all sectors, except finance and real estate) are characterised by stable balance sheets and a desire to pursue their growth by relying on institutional players. The majority of investments will be financing indexed to sustainability criteria2 .
"The deployment of EPC II, which is now almost 90% invested, has demonstrated the relevance of our approach from the point of view of both investors and borrowers. Thanks the trust of our investors demonstrated by our recent fundraisings, our total commitment capacity for each transaction exceeds €100 million. This allows AllianzGI to facilitate and secure transactions in an environment that remains volatile," says Damien Guichard, Head of European Private Credit at AllianzGI.
“EPC III - Invest for Positive Change” is one of the funds managed by the European Private Credit investment team, led by Damien Guichard and based in Paris and Munich. It has completed nearly 100 mid-market transactions across Europe and currently manages around €9 billion for Allianz and third-party investors.
AllianzGI currently manages a wide range of investment solutions and around €90 billion in private market assets.
Contact:
Pia Gröger
Phone: +49 89 1220-8267
pia.groeger@allianzgi.com
Hannah Knarr
Phone: +49 174 1969607
hannah.knarr@allianzgi.com
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 516 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Data as at 30 September 2023. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.
1 According to the SFDR classification.
2 The proceeds of the financing are allocated to the general needs of the company, but there is a contractual commitment to achieve sustainability objectives, with the cost of the debt indexed according to whether or not these objectives are met. Source: France -Invest.