Allianz International Traders has raised €560m (£472m) on the first shut of its impression non-public credit score technique, reaching greater than half of its goal dimension inside a number of months.
The programme, which contains the Allianz Earnings and Progress and Allianz International Synthetic Intelligence funds, has secured commitments from a spread of institutional buyers together with Allianz, APG Asset Administration, the European Funding Fund (EIF) and La France Mutualiste.
Allianz International Traders’ impression non-public credit score technique provides impression direct lending options to European SMEs which might be offering options to environmental and social challenges. It focuses on three core themes: local weather change, planetary boundaries and inclusive capitalism.
Learn extra: Deep impression: Particular report on impression investing
“The primary closing of our impression non-public credit score technique highlights our added worth within the present European direct lending market providing, particularly for first time funds,” stated Alexandra Tixier, lead portfolio supervisor of the impression non-public credit score technique.
“Though impression investing by way of non-public debt is comparatively new, it’s gaining momentum resulting from regulatory modifications, next-gen developments and societal strain to “do good” with investments. As buyers more and more prioritise engagement in direction of net-zero, extra accountable investments and higher transparency, impression investing is rising as a vital new allocation pattern in non-public debt.”
The technique is managed by a crew based mostly in London, Zurich and Paris. It’s a co-creation between the event and impression credit score crew headed by Nadia Nikolova and the impression technique crew led by Diane Mak.
Learn extra: Influence credit score funds develop in reputation
The 2 funds have an impact-linked efficiency price mechanism, which means that a part of the returns are associated to the achievement of particular impression targets along with the requirement of the monetary hurdle being met.
“We’re happy to assist this new fund addressing the distinctive financing wants of impact-driven SMEs, which is aligned with the objectives of the EIF and the InvestEU initiative,” stated Marjut Falkstedt, chief govt of the EIF.
“We’re eager on supporting the expansion of firms whose merchandise, providers, and enterprise practices contribute positively to social and environmental issues. Collectively we’re paving the best way for a extra sustainable future for all.”
Learn extra: AllianzGI raises €300m in first closing of recent non-public credit score impression fund
