Allianz holds €350m final close for renewable energy fund

by Jody Barhanovich

Allianz Global Investors has held a €350 million ($374 million) second close for its Allianz Renewable Energy Fund 2. The final amount raised exceeded the fund’s initial target of €300 million ($321 million).

The closed-end fund invests in European energy infrastructure. Its first investment was the acquisition of the 12.8-megawatt Bohult wind farm in Sweden from local developer Arise in a deal worth $20.3 million. The fund expects to make further investments in the region.

The fund’s predecessor, Allianz Renewable Energy Fund 1, held a €150 million ($160 million) final close in September 2013.

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