Allianz PE head Pütter steps down

Allianz Capital Partners CEO Thomas Pütter had been with the private equity team for over a decade.

Allianz Capital Partners head Thomas Pütter has left Europe’s largest insurance company after more than a decade.  
 
Pütter had worked as chief executive of the company's private equity arm, as well as chairman of its investment committee. A spokesperson for the firm declined to comment on the reason for Pütter’s resignation, which comes after a year that witnessed a number of high profile departures and company restructurings. The firm has yet to announce any plans for a replacement. 

In April, Allianz completed the sale of AGF, its French private equity fund of funds platform – reportedly for €30 million – to IDI Group, an independent French private equity firm. Allianz had announced in January that it would double its €15 billion programme, which included €8 billion of private equity investments.

Thomas Pütter

Last December, Jonny Maxwell stepped down from heading the firm’s fund of funds investment arm, which he had led since 2007. Also that month, Stefan Sanne and Matts Lungren, two managing directors, both stepped down from the firm. All three departures were on “good terms”, said a spokeswoman for the firm.

In a major restructuring last summer, Allianz’s direct private equity investment arm merged its indirect private equity, infrastructure and renewable energy businesses into its 11-year-old private equity division, Allianz Capital Partners. The restructuring separated its real estate business from the other alternative asset classes, which now all share a common organisational structure, as well as back office resources and an executive committee responsible for the whole business.

At the time of the announcement, the firm said it saw growing opportunities particularly in the private equity, infrastructure, renewable energy and mezzanine financing sectors.

Previously, Allianz had separate entities for each different alternative asset class. This included Allianz Specialised Investments in the renewable energy sector, Allianz Infrastructure Partners, Allianz Real Estate and private equity fund of funds Allianz Private Equity.

As of January, Allianz had about €8 billion of private equity investments, with a further €7 billion of investments in other alternative asset classes. Almost 10 percent of the Allianz’s investments are in equities.