Guggenheim closes $400m private debt fund led by AllianzGI

Guggenheim Investments has closed a $400m (£324.8m) private debt fund with the backing of Allianz Global Investors.

A group of funds managed by StepStone Group co-underwrote the deal.

The fund includes around $100m of financing.

Read more: Guggenheim closes $1.2bn private credit fund

“We are excited to have prominent institutional investors like AllianzGI and StepStone as LPs,” said Kevin Gundersen, head of Guggenheim Corporate Funding, the private debt investment manager of Guggenheim Investments. “We believe this partnership continues to fuel the ongoing success of our franchise and enables us to further leverage our strong origination and underwriting platform in a rapidly growing market.”

Anselm Feigenbutz, portfolio manager for secondaries private debt at Allianz Global Investors, said: “We are pleased to establish a partnership with Guggenheim’s private debt team and help structure this transaction.

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“This investment provides us with access to a high quality portfolio with attractive diversification across borrower, sector, and vintage backed by a GP with an established track record in private credit.”

Guggenheim Securities served as exclusive placement agent to Guggenheim Corporate Funding. Latham & Watkins provided legal counsel on the transaction.

Read more: AllianzGI raises €300m in first closing of new private credit impact fund