Netherlands-based pension services provider APG is one of three anchor investors in Allianz Global Investors’ (AllianzGI) Impact Private Credit strategy, which raised €560 million (US$618 million) from institutional investors at first close. Helped by commitments from the European Investment Fund and La France Mutualiste, the Sustainable Finance Disclosure Regulation Article 9-classified fund reached more than half its target size within a few months of launch. Using a proprietary framework, it will offer impact direct lending solutions to European small- and medium-sized companies whose core activities provide solutions to crucial environmental and social challenges. According to AllianzGI, the strategy is designed to accompany the development of “impact champions” looking to solve societal challenges, with a focus on three core themes: climate change, planetary boundaries and inclusive capitalism. In terms of environmentally focused investments, will target firms involved in clean and efficient energy, resource efficiency, sustainable food, and agriculture. On the social side, priority will be given to investments facilitating access to quality, accessible and affordable healthcare and education. “Impact investing within the private credit market is still in its infancy but is developing rapidly,” said Menno van den Elsaker, Head of Alternative Credits and Marcin Lenart, Expert Portfolio Manager for Alternative Credits at APG Asset Management. “Given the ambitious impact goals of APG’s pension fund clients ABP and bpfBOUW, APG intends to be at the forefront of these developments and to establish leading impact investing practices.”
