Allianz Global Investors has completed the EUR270 million (US$302.93 million) first close for its newly launched core European infrastructure debt fund.

The Allianz Euro Core Infrastructure Debt Fund attracts investors that wish to make smaller commitments to infrastructure debt. It is set to co-invest with existing Allianz Group companies and third party accounts.

The Fund will invest across Europe in all core infrastructure sectors, including transport, regulated utilities, and renewables.