Allianz Capital Partners

About Allianz Capital Partners

Allianz Capital Partners is a German alternative equity investment platform with €50.3 billion of assets under management as of December 2024 (€58.3 billion per latest disclosure), headquartered in Munich and operating as a wholly-owned subsidiary of Allianz Global Investors within the Allianz Group. The firm was founded in 1996 as the in-house alternative equity investment arm when Allianz Group made its first private equity fund investment, and has since expanded into one of Europe's largest infrastructure and private equity allocators.

Investment thesis

Allianz Capital Partners deploys capital through approximately six to eight active vehicles including private equity fund-of-funds programmes plus separately managed accounts and direct equity in infrastructure assets. Strategy emphasises long-dated buy-and-hold direct equity in infrastructure (regulated utilities, transport, renewable energy, digital infrastructure) plus private equity fund-of-funds and direct co-investments, with cash-yield driven return objectives rather than exit-driven capital gains. Sector focus spans infrastructure, renewable energy (solar, wind, battery storage), private equity and digital infrastructure across Europe core, North America and selective Asia-Pacific markets, supported by Allianz balance-sheet capital and multi-decade investment horizons.

Recent activity

Recent realised exits include utilities and gas networks (2024). Recent acquisitions include a Battery Storage Germany platform stake (April 2026), an electricity grid stake in Amprion (March 2026) and the Yondr data-center platform (July 2025). The platform continues active deployment across its infrastructure and private equity programmes anchored by Allianz Group balance sheet allocation. Detailed buyer names and multiple data available on Pro at €49/month.