Allianz Global Investors (AllianzGI) has announced the first close of its latest private debt secondaries fund, securing €1.2bn (£1.05bn) in commitments.
The Allianz Private Debt Secondaries Fund II (APDS II) will invest primarily in senior direct lending opportunities, complemented by opportunistic positions. The strategy aims to build a diversified portfolio across managers and sectors, targeting the US, Europe and Asia.
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“The private debt secondaries market has experienced substantial growth over the past two years, with many investors seeking flexibility and portfolio optimisation,” said Alexandra Auer, head of distribution Europe, Middle East, and Africa at AllianzGI.
The raise follows the launch of AllianzGI’s first private debt secondaries fund in September 2022, which held its final close in December 2024 with €1.5bn raised.
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“Secondaries are becoming a key element of many institutional investors’ portfolios, and we expect private debt secondaries to continue growing in the coming years,” added Joaquín Ardit, lead portfolio manager for Allianz’s private debt secondaries strategy.
AllianzGI currently manages €97bn in private markets and oversees €580bn in assets overall.
