Asset Management
What's New In Investments, Funds? - Allianz
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.
