AllianzGI leads KKR’s first private credit continuation vehicle
Allianz Global Investors (AllianzGI) has acted as lead investor in KKR’s first secondaries transaction for its direct lending platform.
“This investment provides access to a diversified portfolio of predominantly senior, US-focused direct lending investments,” AllianzGI said in a LinkedIn post.
Read more: AllianzGI hits €1.2bn first close for second private debt secondaries fund
Alexander Li, senior portfolio manager in AllianzGI’s global private credit division, commented: “The transaction demonstrates the increasingly important role secondaries can play in providing flexible solutions for established private credit portfolios.”
He added: “We believe the transaction underscores the opportunity for experienced secondary investors to play a strategic role as the private credit secondaries market continues to grow.”
Read more: AllianzGI backs Kyotherm with €200m multi-currency debt facility
Earlier this year, AllianzGI co-led Crescent Capital’s $3.2bn (£2.4bn) private credit continuation vehicle.
George Mueller, partner in KKR’s credits and markets division, said: “We are pleased to expand our relationship with AllianzGI through this transaction.”
