Allianz Global Investors has announced the first close of its Impact Private Credit strategy with a total raised of EUR 560mn.

Commitments to the fund come from institutional investors including Allianz, APG Asset Management, the European Investment Fund and La France Mutualiste. The fund is classified article 9 under the Sustainable Finance Disclosure regulation (SFDR).

The fund focuses on three themes: climate change, planetary boundaries and inclusive capitalism with investments in European small to mid-market corporates. On the environmentally focused investments, solutions include clean and efficient energy, resource efficiency, sustainable food and agriculture. On the social side, solutions are oriented around access to quality, accessible and affordable healthcare and education.

The IPC strategy is a co-creation between the Development and Impact Credit team headed by Nadia Nikolova and the Impact Strategy team led by Diane Mak.

Matt Christensen, Global Head of Sustainable and Impact Investing, said, “ The move from ESG to sustainability to impact is the trend of this decade. Impact investing is growing in waves across private markets, going from private equity in prior years to private credit as of today. For us, Impact is about supporting business models that through their products or services, make a positive, significant and measurable difference by meeting a proven need in society or by creating a clear environmental benefit”.

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