Allianz Global Investors, seeking to strengthen its offering in alternative equity, will take Allianz Capital Partners (ACP) under its umbrella at the start of 2018.
As a result ACP and AllianzGI will work together on an investment offering for external clients.
Jürgen Gerke, chief executive of ACP, will report to Andreas Utermann, chief executive of AllianzGI.
'Over the last five years, AllianzGI has expanded significantly its investment offering, adding a diverse range of teams and capabilities, with distinct market offerings,' said Utermann. He pointed to ACP's experience in areas such as direct infrastructure equity investments, saying that would be 'of particular interest to our external clients.'
ACP currently manages €22 billion ($25.9 billion) in alternative equity assets on behalf of Allianz. With this move, AllianzGI’s AUM in alternatives will top €58 billion.
'We are excited by the opportunity to pool Allianz and third party client commitments,' said Gerke. 'With a diversified set of funding options available to us, we can increase our flexibility for individual transactions.'
AllianzGI’s alternatives platform includes liquid and illiquid alternative investment offerings, including infrastructure debt and green-focused infrastructure equity.