At a glance
- Allianz Infrastructure Credit Opportunities Fund II is the second in the AICOF strategy, launched in June 2024 with a first close that December.
- About €1 billion ($1.1 billion) of the money raised has already been committed to investments, IREI reported, leaving roughly €500 million for new deals.
- For a family office building an infrastructure debt allocation, fresh exposure would now require a commitment to a successor fund or a purchase in the secondary market.
Allianz Global Investors closed its second infrastructure credit fund at €1.5 billion ($1.7 billion), 50% above its €1 billion target.
Allianz Infrastructure Credit Opportunities Fund II is the second in the AICOF strategy, launched in June 2024 with a first close that December. Commitments came from a diversified international institutional investor base across Europe and Asia, IREI reported.
About €1 billion ($1.1 billion) of the money raised has already been committed to investments, IREI reported, leaving roughly €500 million for new deals. Capital committed so far has gone into energy transition, digital and social infrastructure.
For a family office building an infrastructure debt allocation, fresh exposure would now require a commitment to a successor fund or a purchase in the secondary market.
The strategy lends at different layers of the capital structure, holding senior and subordinated infrastructure debt, with an investment focus on energy, transport, communications, environmental and social infrastructure.
“Decarbonization and digitalization continue to reshape infrastructure and create a broad range of investment opportunities,” said Matthew Norman, head of infrastructure debt at AllianzGI. He said the final close “reflects continued institutional demand for flexible infrastructure debt strategies.”
The infrastructure raise sits alongside AllianzGI's work elsewhere in private credit. As Private Wealth Daily previously reported, the firm led KKR's first direct lending continuation vehicle, a portfolio made up mostly of senior US loans.
The fund closed 50% above its target
Commitments raised at final close against the €1B target, €M
- Actual
- Target
- AICOF II1.5K €M of 1K €M · 150%
Show as table
| Item | Actual | Target | Of target |
|---|---|---|---|
| AICOF II | 1.5K €M | 1K €M | 150% |
Decarbonization and digitalization continue to reshape infrastructure and create a broad range of investment opportunitiesMatthew Norman, head of infrastructure debt at Allianz Global Investors
Reported by the Fundraising desk from IREI. Published . Corrections