Allianz Global Investors has launched a second fund specializing in renewable energy. Allianz Renewable Energy Fund 2 aims to raise €300 million ($331 million). It has already raised €190 million ($209 million) in equity commitments. The final close is schduled for third quarter 2016.
Like its predecessor, AREF2 will target investments in wind and solar parks in Europe. Allianz Renewable Energy Fund 1 raised €150 million ($165 million), which was fully invested in various wind and solar park projects in four European countries.
Once AREF2 has completed its investments, AllianzGI will manage a total of more than €1.6 billion ($1.8 billion) in projects focused on the generation of renewable energy.
Fund data at your fingertips. Subscribe to the FundTracker database.