Allianz Capital Partners targets €500m for inaugural fund

The vehicle, which is ACP’s first since its January 2018 merger with Allianz Global Investors, will invest in European infrastructure.

Allianz Capital Partners is to raise and manage third-party capital for the first time with the launch of a new vehicle.

ACP said it would be seeking to raise €500 million from institutional investors for the Allianz European Infrastructure Fund. This follows more than a decade in which the Munich-based asset manager has invested in infrastructure equity on behalf of Allianz insurance companies.

“We have been in talks with institutional investors and see a lot of interest,” an ACP spokeswoman told Infrastructure Investor, though she did not specify whether any commitments had been made.

A team of ACP senior investment professionals, led by chief investment officer Christian Fingerle, will manage the fund. The company said AEIF would target “high-quality infrastructure” in Europe’s energy, transport and communication sectors.

It is ACP’s first fund since it moved under the umbrella of Allianz Global Investors in January 2018. At the time, AllianzGI described the merger as a means “to extend the range of investment expertise available to AllianzGI’s broad global client base, strengthening further its offering in alternatives”.

AllianzGI offers its own funds to external clients. However, the ACP spokeswoman said that a key differentiator between those funds and AEIF is that institutional clients would now have the chance to invest in European infrastructure equity. “AllianzGI’s infrastructure funds focus either on infrastructure debt or renewables equity,” she said.

ACP expects to hold a first close this year and a final close a year afterwards.
In addition to infrastructure and renewables, ACP invests in private equity. As at 31 December 2018, it managed approximately €28 billion of alternative assets.