Allianz Global Investors has held a second close for its European renewable energy fund, drawing in €190 million of institutional capital.
The Allianz Renewable Energy Fund 2 (AREF2) is a closed-end fund targeting €300 million, with a final close scheduled for the end of the third quarter. AREF2’s investment focus is on European wind and solar projects, the same as its first renewable fund that launched at the end of 2012.
Allianz fully invested its first fund, which closed in September 2013 at €150 million , with the acquisition of a 58MW solar portfolio in southern France and an 8MW solar farm in Italy in December 2014.
“We have already proven in recent years how swiftly and efficiently we can operate,” said Armin Sandhövel, chief investment officer for infrastructure equity at Allianz. “We are, of course, resolute in buying only high-quality projects. These investments feature carefully judged diversification, underpinning the above-average long-term returns anticipated for investors in AREF2.”
Allianz operates out of 25 offices in 18 countries. The investment manager has more than €435 billion of assets under management for individuals, families and institutions around the world.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: