Allianz SE will transfer its shares in Allianz Real Estate to fixed income specialist firm PIMCO in a bid to create one of the world’s largest global real estate investment managers, according to the firms.
Allianz Real Estate, which currently has more than €70bn of assets under management (AUM), will end up with €100bn of real estate assets across Europe, the US and Asia Pacific. The firms said they were complementary in terms of geography, products, investor coverage, people and expertise. In a statement, they said the respective leadership teams will work together in the coming months to align their expertise more closely while ensuring that both organizations remain fully committed to fulfilling the various fund investments and institutional mandates of their current configurations. ...
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