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AllianzGI raises EUR1.5 bil for secondary private credit fund

Bloomberg
Bloomberg • 1 min read
AllianzGI raises EUR1.5 bil for secondary private credit fund
Allianz Global Investors has raised EUR1.5 billion ($2.11 billion) for a fund that buys private credit stakes on the secondary market. Photo: Bloomberg
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Allianz Global Investors has raised EUR1.5 billion ($2.11 billion) for a fund that buys private credit stakes on the secondary market. 

The firm has exceeded its initial fundraising target of EUR500 million for the strategy that buys positions in direct-lending funds from institutional investors at a discount, according to a statement. 

A burst of trading in the secondary market is the latest development for the US$1.6 trillion ($2.20 trillion) private credit industry, where some funds have excessive cash amid the deal drought.

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