Allianz Global Investors makes £500m bond investment in M6 toll road acquired by IFM Investors

Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, is pleased to announce its £500m bond investment in the M6 toll road in central England, following the acquisition of the road by IFM Investors (IFM).

The investment, made on 2nd June 2016, spans 32 years, with AllianzGI investing on behalf of a large number of Allianz Group companies, as well as third party clients. AllianzGI’s investors in the transaction include its own dedicated sterling pooled fund (“Fund 1”) and clients investing via separately managed accounts. The Pension Protection Fund (“PPF”), often referred to as the UK’s ‘pension fund lifeboat’, is one of the third party investors in the transaction – its first investment alongside AllianzGI’s infrastructure debt platform.

Through this investment AllianzGI’s Fund 1 is now fully invested, having completed a first close in late 2014 and a second close in 2015. AllianzGI intends to launch a second UK Infrastructure Debt fund following strong investor demand on the back of the success of Fund 1, which enabled smaller pension funds direct access to high quality long-term private bonds, which had previously only been directly accessible through large largest institutional investors.

Commenting on the transaction, Portfolio Manager, Adrian Jones said: “We are delighted to have been offered this opportunity to work with M6toll and IFM to bring a successful conclusion to this important acquisition and refinancing deal. The M6 toll road, an essential infrastructure asset with a long operating history, represents exactly the sort of asset our clients look to invest in.  With the acquisition of a majority controlling stake in M6toll by IFM our clients were able to invest with confidence. 

“This transaction is particularly noteworthy for AllianzGI as it represents the culmination of over a year’s work by a large number of our team working from both Paris and London. It is our largest UK investment to date and it completes the investment phase of Fund 1. This was also our first investment alongside the PPF, a strategically important investor in the UK pensions industry.”

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For further information please contact:

Nadia Hassini +44 (0)20 3246 7558

Alastair Fairbrother +44 (0)20 3246 7432

ukmedia@allianzgi.com

 

About Allianz Global Investors
Allianz Global Investors is a diversified active investment manager with a strong parent company and a culture of risk management. With 25 offices worldwide, we provide global investment and research capabilities with consultative local delivery. We have more than EUR 501 billion in AUM for individuals, families and institutions worldwide and employ over 500 investment professionals.

At Allianz Global Investors, we follow a two-word philosophy: Understand. Act. It describes how we look at the world and how we behave. We aim to stand out as the investment partner our clients trust by listening closely to understand their challenges, then acting decisively to provide them with solutions that meet their needs .

Data as of 31 March 2017. Includes AUM of entities held for sale.

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