About This Fund
Allianz Credit Emerging Markets (ACE) Fund is a blended finance private debt strategy managed by Allianz Global Investors (AllianzGI), one of the world's largest active asset managers with more than EUR 530 billion in assets under management. The fund represents AllianzGI's fifth blended finance initiative and combines concessional capital from development finance institutions with institutional private capital to mobilize large-scale investment in support of the Paris Agreement and the United Nations Sustainable Development Goals (SDGs).
The fund reached a first close of USD 690 million on January 20, 2026, with Allianz SE and Swiss pension fund GastroSocial Pensionskasse serving as anchor investors for the senior tranche. The junior tranche attracted commitments from British International Investment (BII), Global Affairs Canada, the Inter-American Development Bank Invest (IDB Invest), the Swedish International Development Cooperation Agency (SIDA), and Impact Fund Denmark. AllianzGI is targeting a final close at USD 1 billion.
The ACE Fund invests in a diversified portfolio of private debt instruments across low-carbon sectors in emerging markets, focusing on clean energy, smart agriculture, sustainable infrastructure, financial institutions serving underserved communities, and certain manufacturing activities. The fund's geographic mandate spans Africa, Latin America and the Caribbean, and Asia Pacific. The blended finance structure features tiered tranches with differentiated risk-return profiles, enabling institutional investors to participate in emerging market private credit at adjusted risk levels while unlocking capital for climate-critical infrastructure projects in regions underserved by traditional institutional investment flows.