Allianz Real Estate participates in opportunistic investments in China


Allianz Real Estate is acquiring 35 % of a closed-end fund that focuses on opportunistic investments in value-add commercial properties in China and Hong Kong. The remaining shares of the “KaiLong Greater China Real Estate Fund II” are subscribed by other investors with similar strategic orientations. In total, fund manager KaiLong Group wants to collect $500mn in new capital for the fund, which specializes in refurbishment and repositioning of commercial property and the conversion of older commercial buildings into modern offices. The fund currently administers investments of $1.7bn. The transaction is part of a strategy to place about 10% of the global investment volume in Asia. Allianz was advised on this investment by Clifford Chance and Ernst & Young.


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