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The Munich-based asset manager has deployed roughly 40% of the infrastructure equity fund – a hybrid vehicle that will invest in other funds, secondaries but also directly via co-investments.
The manager has already agreed its first deal from the strategy, as it plans to launch a dedicated fund and break into a ‘fragmented market’.
The German group is vowing to make a tangible and demonstrable climate impact, ‘in contrast to conventional sustainability funds’.
The fund, which will be managed by Allianz Capital Partners, will invest in infra funds, secondaries but also directly via co-investments.
As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.
Frankfurt
Daniel Graf von der Schulenburg joins from his role as partner at London-based 3i Group, where he had been since 2016.
Munich
The German manager intends to keep its third instalment at a similar size as it seeks to maintain its current strategy.
Wind farm Western Australia
The vehicle is the Commerzbank subsidiary’s second in a series, although this time has wider European mandate than only Germany.
Allianz beat the Europe-focused fund’s target size in October and for a second time at final close.
The firm has already made its first investment, acquiring a 44% stake in Germany’s A8 motorway from InfraVia and Egis.
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