Allianz closes biggest ever German FoF(2)

Allianz Private Equity Partners has raised an €823 million fund-of-funds, which it will use to invest in buyout and venture funds worldwide.

Allianz Private Equity Partners has closed its latest fund-of-funds at €823 million ($1.08 billion), the largest ever raised in Germany.

APEP, the private equity fund investment arm of German insurer Allianz Group, has raised its biggest ever fund-of-funds, from a range of institutional investors. About €200 million of the total has been garnered from companies in the Allianz Group.

APEP will invest the money over the next three to four years in a global range of primary and secondary buyout and venture funds. It has previously invested in the likes of Bain Capital, Affinity Asia, HIG Capital Partners and Investitori Associati.

With the addition of the latest fund, APEP now has about €5 billion under management.

APEP managing director Christian Mayert said the Allianz group would continue to increase its allocation to private equity. “Therefore we will be able to offer further attractive investment opportunities to clients and investors,” he said.