Allianz Global Investors (AllianzGI) has reached the final close of the Allianz Global Diversified Infrastructure Equity Fund (AGDIEF), which was held at the end of December 2020, at over EUR1 billion (US$1.2 billion). The AGDIEF was launched in early 2020.

Due to strong demand from institutional investors across Europe, the fund, managed by Allianz Capital Partners (ACP), exceeded its target size of EUR 900mn within eleven months. The first close was held in July 2020 with commitments of more than EUR 600 million (US$724.3 million).

The AGDIEF invests in leading diversified and specialist infrastructure funds via both primary commitments and secondary transactions and pursues co-investments alongside like-minded fund managers. The AGDIEF will build a global and diversified infrastructure portfolio across the energy, transportation, communication, environmental and social sectors.

Through AGDIEF, institutional clients will for the first time be able to build a portfolio of equity investments alongside Allianz insurance companies in a multi-billion euros program to invest in infrastructure globally. The fund is pursuing a co-investment approach with Allianz whereby Allianz will commit at least half of the capital to each target investment alongside AGDIEF’s third-party clients. This approach ensures a strong alignment of interest between Allianz and investors in the AGDIEF.