AllianzGI Raises €1.5 Billion for Secondary Private Credit Fund
- The asset manager exceeded its initial €500 million target
- Ares, Apollo are among managers investing in secondary deals
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Allianz Global Investors has raised €1.5 billion ($1.54 billion) for a fund that buys private credit stakes on the secondary market.
The firm has exceeded its initial fundraising target of €500 million for the strategy that buys positions in direct-lending funds from institutional investors at a discount, according to a statement.