At a glance
- AllianzGI said in a LinkedIn post that the investment gives it access to "a diversified portfolio of predominantly senior, US-focused direct lending investments."
- For allocators evaluating the KKR vehicle, the undisclosed price relative to the portfolio's marks is the key diligence question because it determines both AllianzGI's return and KKR's liquidity.
- AllianzGI's second private debt secondaries fund, the pool used for the KKR transaction, had a €1.2 billion first close, Alternative Credit Investor reported.
Allianz Global Investors acted as lead investor in KKR's first private credit continuation vehicle, a secondaries transaction for the manager's direct lending platform, Alternative Credit Investor reported. Terms were not disclosed.
AllianzGI said in a LinkedIn post that the investment gives it access to "a diversified portfolio of predominantly senior, US-focused direct lending investments."
For allocators evaluating the KKR vehicle, the undisclosed price relative to the portfolio's marks is the key diligence question because it determines both AllianzGI's return and KKR's liquidity. AllianzGI co-led Crescent Capital's $3.2 billion private credit continuation vehicle earlier this year.
AllianzGI's second private debt secondaries fund, the pool used for the KKR transaction, had a €1.2 billion first close, Alternative Credit Investor reported.
Reported by the Direct Lending desk from Alternative Credit Investor. Published . Corrections