About This Fund
The Allianz Asia Pacific Secured Lending Fund (AAPSL) is a dedicated private credit vehicle managed by Allianz Global Investors (AllianzGI), one of the world's leading active asset managers. The fund held its final close on 15 December 2023, securing USD 610 million (approximately EUR 562 million) in commitments from institutional investors in Europe, the Middle East, and Asia Pacific. AAPSL represents a significant milestone in AllianzGI's Asian private credit expansion, establishing the firm as a specialist lender to mid-market corporates across the Asia Pacific region (excluding China).
The fund's investment strategy focuses on deploying senior secured, senior unsecured, second lien, and subordinated debt to well-diversified businesses across Southeast Asia, South Asia, and Oceania. Target borrowers are mid-market corporates with enterprise values between USD 500 million and USD 2 billion and EBITDA between USD 15 million and USD 100 million — a segment that historically offers attractive risk-adjusted spreads due to limited competition from global banks. Core sectors include infrastructure, energy transition, healthcare, and education, with an emphasis on businesses demonstrating resilience across economic cycles and positioned to benefit from the low-carbon transition.
AllianzGI's dedicated Asia Pacific private credit team manages USD 1.4 billion in total assets for the region as of the fund's final close, combining deep origination relationships with robust credit underwriting capabilities. The AAPSL fund allows institutional investors to co-invest alongside Allianz Group's proprietary balance sheet capital, aligning interests between the manager and limited partners. The fund's geographic focus outside China is designed to capture the growth tailwinds of Southeast Asia's expanding middle class, South Asia's infrastructure investment cycle, and Australia's well-established credit markets.