Private credit
Private credit offers institutional investors investment opportunities with compelling risk-adjusted returns and strong downside protection. We believe that diversification across asset managers, geographies, sectors, styles and vintage years is essential to utilize the full potential of this asset class.
At AllianzGI, we have been financing the debt of non-IG mid market private corporates since 2013. With the ambition to provide innovative and diversified investment solutions to clients, the platform has continued to expand its reach both in terms of geography and investment focus over recent years.
Global private debt
Our Global Private Debt programme offers investors a suite of strategies that provides access to broadly diversified global private debt portfolios with strong downside protection. The strategies invest in private debt funds and co-investments that finance mid-sized companies’ needs in various situations such as expansion, growth or restructuring. Throughout the strategies, diversification will be sought across sectors, geographies and underlying investments.
Allianz was one of the early investors in private debt with a cycle-tested record since 2007. The AllianzGI Global Private Debt team has deployed more than EUR 20bn in over 50 private debt funds on behalf of Allianz entities. The team invests broadly across the private debt universe in senior lending, subordinated and special situations strategies.
AllianzGI offers institutional investors commingled programmes and managed accounts customized to each client’s needs.
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Over the last few weeks fixed income markets have seen huge volatility, with significant questions about correlations and liquidity thrown up by markets. Central bank and government interventions have moved markets and in these conditions an approach which is active, flexible and unconstrained is crucial.
The Allianz Strategic Bond strategy adopts just this approach investing across the fixed income spectrum, taking a global, unconstrained approach in order to deliver returns from the full range of fixed income instruments. The strategy is different from many of its peers as it has four core global drivers of alpha, rather than domestic ones:
- Duration
- Credit
- Foreign exchange
- Inflation
In addition, in today’s volatile market environment it is crucial your fixed income allocation acts as it should, providing some diversification vs equities to protect the returns in your portfolio. The Allianz Strategic Bond strategy aims to behave like a true bond fund and targets a low correlation with equities, ideal when market volatility is high.
Since the outbreak of the Coronavirus and the subsequent volatility markets have seen this investment approach has been hugely beneficial to clients. The strategy has been able to use its flexibility to position itself to generate returns and offer diversification against falling equity markets.
What’s happening in fixed income markets?
The team behind the Allianz Strategic Bond strategy regularly blog about their latest views on markets via the Bond Issues Blog.The strategy is run by Mike Riddell and Kacper Brzezniak, lead portfolio managers who are based in London. Mike has been running the Allianz Strategic Bond strategy since inception in June 2016.
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Watch the latest webcast on the Allianz Strategic Bond strategy.
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Contact us to learn more about the Allianz Strategic Bond strategy.
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- Duration
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The Global Private Debt Opportunities strategy leverages the capabilities of the Allianz Global Diversified Private Debt programme and provides consistent access to predominantly middle-market corporate debt throughout the business cycle. It focuses on subordinated debt and countercyclical special situations strategies, complemented by senior secured loans.
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The Global Real Estate Debt Opportunities strategy invests in real estate debt funds and co-investments that finance real estate assets and development projects in different sectors, including logistics, residential and office. Geographically, the strategy is broadly diversified globally, but also within regional sub-markets.
Documents
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17/12/2020
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European private credit
The European Private Credit (EPC) strategy provides senior long-term financing to mid-market companies, either to support their growth or to refinance, with a focus on performing companies benefiting from a good track-record of profitability.
The strategy invests through a wide range of opportunities, either directly originated or intermediated. It aims at providing our investors diversification away from the public markets and a balanced risk/return profile through credit selection and the robust documentation of investments.
Asia private credit
AllianzGI launched the Asia Private Credit strategy in 2018, recognizing the opportunity for institutional investors to invest in the region, driven by a significant funding gap for mid-market corporates in Asia seeking bespoke credit solutions for the purposes of growth acquisitions or refinancing.
To best capture this opportunity, we seek to act as a “one-stop” shop for structured credit solutions and provide customized holistic non-dilutive credit alternatives to cash generative, high growth, performing mid-cap companies via senior secured, subordinated or mezzanine lending. Our strategy provides debt financing to middle market corporates in Asia Pacific (excluding China) in order to capture attractive yield pick-up compared to comparable public debt (e.g. high yield, broadly syndicated loans) with strong downside protection, providing diversification within the credit asset class.
What other strategies are available? |
For professional investors only, strictly private and confidential solely for the intended recipient
Private credit investments are highly illiquid and designed for professional investors pursuing a long-term investment strategy only.
This document is not a contractually binding document or an information document required by any legislative provision and is not sufficient to take an investment decision. This is a marketing communication. Please refer to the legal and regulatory documentation named funds (Funds) (before making any final investment decisions.
Target return assumptions may be based on the investment team’s experience with predecessor funds, market participants and other stakeholders of the industry. Actual returns from an investment in the portfolio over any given time horizon may vary significantly from the target return assumptions. Future performance is subject to taxation which depends on the personal situation of each investor and which may change in the future.
To the extent we express any prognoses or expectations in this document or to make any forward-looking statements, these statements may involve risks. Investments in the Funds entail a high degree of risk and no assurance can be given that the investment objectives will be achieved or that investors will receive a return on their capital. Please refer to Funds’ legal documentation for a full description of General and Specific Risk Factors.
Actual results and developments may therefore differ materially from the expectations and assumptions made. On our part, there is no obligation to update target return assumptions and forward-looking statements presented herein.
Allianz Global Investors may terminate arrangements made for marketing, including by way of de-notification. The Summary of Investor Rights is available in English, French, German, Italian and Spanish at https://regulatory.allianzgi.com/en/investors-rights.
Investing involves risks. The value of an investment and the income associated with it can go down as well as up. Investors may not get back the full amount invested. Past performance does not predict future returns. If the currency in which the past performance is displayed differs from the currency of the country in which the investor is resident, the investor should be aware that the performance shown may be higher or lower due to exchange rate fluctuations when it enters the local currency of the investor is converted. The views and opinions expressed herein, which are subject to change without notice, are the views and opinions of the issuer and / or affiliates at the time of publication. The data used come from various sources and are believed to be correct and reliable. The terms and conditions of all underlying offers or contracts that have been or will be made or concluded take precedence. This document does not contain any statements about the suitability of the investments described here for the individual circumstances of a recipient.
For investors in the European Economic Area (EEA) & United Kingdom
For a free copy of the Funds legal and regulatory documentation, and/ or further information, contact Allianz Global Investors GmbH, either electronically or by mail at the given address. Please read these documents, which are solely binding, carefully before investing. This is a marketing communication issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de). Allianz Global Investors GmbH has established branches in the United Kingdom, France, Italy, Spain, Luxembourg, Sweden, Belgium and the Netherlands. Contact details and information on the local regulation are available here (www.allianzgi.com/Info).
For investors in Switzerland
For a free copy of the offering memorandum, subscription documents and the latest annual report of the fund contact [the Swiss representative and paying agent BNP Paribas Securities Services, Paris, Zurich branch, Selnaustrasse 16, CH-8002 Zürich - only for Swiss HNWI although opted-out as professional investors] or the issuer either electronically or by mail at the given address. Please read these documents carefully before investing. This is a marketing communication issued by Allianz Global Investors (Schweiz) AG, a 100% subsidiary of Allianz Global Investors GmbH.
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