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Allianz beat the Europe-focused fund’s target size in October and for a second time at final close.
Commitments from two Swedish investors have brought the fund’s value to just under €300m, with an additional €90m from the EIB expected imminently.
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Prudential’s Asian asset manager will create an investment solutions team, focused on providing multi-strategy products to investors, as well as an investment fund strategies team.
European secondaries specialist Ardian will act as anchor investor and offer current partners the opportunity to become LPs alongside it, a source said.
The life insurer has appointed HSBC Global Asset Management to source investments that will be denominated in US dollars or local currencies.
Insurers in the region that have increased their exposure to alternative assets face regulatory changes that may hinder future investments.
The fund has already raised more than $250m, mainly from Taiwanese life insurers, and will focus on attracting commitments from public pension funds over the next year.
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