APG, the asset manager for the Dutch public sector pension fund ABP, has invested in Allianz Global Investors (AllianzGI’s) Impact Private Credit strategy (IPC) alongside the European Investment Fund (EIF), and La France Mutualiste as anchor investors.
At first close, AllianzGI’s Article 9 fund has secured €560m of commitments from investors, offering direct lending solutions to European small to mid-market companies whose core business is to provide solutions to environmental and social challenges.
According to AllianzGI, which has €555bn in assets, the environmentally focused investments and solutions include clean energy, resource efficiency, sustainable food and agriculture. In addition, the fund will also invest in social solutions focused on access to accessible and affordable healthcare and education.
Dutch investor APG, which manages €577bn of pension assets, has committed to the IPC fund alongside other anchor investors, including Allianz, the European Investment Fund and La France Mutualiste.
Menno van den Elsaker, head of alternative credits and Marcin Lenart, expert portfolio manager at APG Asset Management, said: “Impact investing within the private credit market is still in its infancy but is developing rapidly.
“With AllianzGI we have found a partner that has one of the most advanced and thorough frameworks for assessing impact in potential private credit investments, ensuring the integrity of impact across the investment lifecycle and proper outcome impact metrics reported to investors” he said.
