Allianz: invests in Chinese KaiLong fund
(CercleFinance.com) - Allianz today announces that it has taken a stake in KaiLong Greater China Real Estate Fund II (KGCREFII), a closed-end investment fund targeting “value-add” real estate investment opportunities in China and Hong Kong.
Following this transaction, via its Allianz Real Estate division, the German insurance company will hold 35% of the fund, with the balance held by long-term institutional investors. KaiLong aims to raise 500 million dollars.
Rushabh Desai, head of Asia-Pacific at Allianz Real Estate said that the group aims to deploy between 50% and 60% of its investments in the Asia-Pacific region in countries that benefit from strong economic growth.
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