Allianz Eyeing LatAm

Allianz Capital Partners is looking to move into LatAm private equity funds after 5 years of studying the region. It aims to make an investment by the end of this year, says investment manager Worth Groome during a PE & VC event in New York City on Thursday. On the sidelines of the event, Groome could not say exactly how much the LP would invest or in how many funds it would invest. However, he does say that Allianz seeks funds with a proven track record, good reputation and a generalist, non-sector focus. He also says the LP prefers to invest in control-oriented funds with a country-specific focus. “We would like to pick our managers in each country, but we could consider regional fund,” he says. Allianz has EUR6.5bn in assets under management globally, with 45% currently devoted to Europe, 40% to the US and the remainder to Asia.