Asset Management

What's New In Investments, Funds? - Allianz

Editorial Staff, 15 August 2019

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The latest new developments in investments, funds and wealth management products around the world.

Allianz
Germany-based Allianz Real Estate, acting on behalf of several Allianz companies, has committed $150 million to a closed-end office development platform managed by India’s Godrej Group. This investment is part of Allianz’s strategy to allocate 50-60 per cent of its real estate exposure within the Asia-Pacific exposure to markets such as China and India.

The platform, Godrej BTC (‘GBTC I’), targets the development of premium Grade-A offices in Tier-One cities in India. It has secured two developments, one each in Mumbai and Gurgaon, at a total of two million square feet and has a pipeline of 1.3 million square feet in Bengaluru. Allianz, Godrej and a European pension manager will each own a third of the office development platform; Godrej Fund Management will act as the investment manager, according to a statement from Allianz Real Estate State.

In 2017 Allianz made its first investment in India, creating an office investment platform with Shapoorji Pallonji, which was followed by a logistics development venture with ESR in 2018.

“We continue to believe in the long-term growth prospects of the Indian economy. Strong demographic trends and improving transparency are supporting real estate occupier as well as investor demand, in particular the office sector, which is ideal for long-term institutional investors such as Allianz,” Rushabh Desai, Asia-Pacific chief executive of Allianz Real Estate, said.

Allen & Gledhill, Khaitan & Co, Ernst & Young and AECOM acted as advisors to Allianz.

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