Allianz Global Investors (AllianzGI), the insurer’s investment management arm, said it had successfully closed fundraising for its Allianz Private Debt Secondaries Fund (APDS). The Luxembourg-domiciled fund and “related financial vehicles” closed at €1.5bn, the firm said in a press release on 13 January 2025. The “fund was heavily oversubscribed and exceeded the initial €500m target fund size” driven by “strong interest from international institutional investors as well as Allianz as strong anchor investor.”

Preqin, a research and data provider, last autumn that the private market secondaries market would grow at 13.1% annually between 2023 and 2029.

“The market for private debt secondaries is being established and we were one of the first asset managers to launch a fund for this strategy,” Edouard Jozan, head of distribution Europe at AllianzGI, stated in the announcement.

Launched in September 2022, APDS was AllianzGI’s first fund and “invests in senior direct lending opportunities, selectively complemented by opportunistic positions and aims to build a diversified portfolio across managers, sectors and geographies.”

“We are working on the launch of a successor strategy that is envisaged for mid of 2025”, Joaquín Ardit and Anselm Feigenbutz, senior APDS portfolio managers, stated in the press release.

AllianzGI said it manages €560bn in assets worldwide, including “over €90bn in private markets.”