Media report: Allianz interested in multi-billion dollar private debt provider

Allianz wants to acquire Capital Four. Bloomberg News reports this, citing people who wished to remain anonymous due to confidentiality. The talks could be delayed or even fall apart. Allianz and Capital Four have not yet issued any statements. What is undisputed is that an acquisition would allow the insurer to expand its asset management business.

Copenhagen-based Capital Four is primarily active in the private credit sector. According to its own information, the Danish investment boutique manages a good €23 billion across various investment strategies, including €8 billion through its private debt platform.

Allianz includes two asset managers, Pimco and Allianz Global Investors (AGI) . The former is led by Emmanuel Roman , while AGI is led by Tobias Pross , who recently emphasized his openness to inorganic growth in the private markets business.

At the end of 2024, AGI managed around 98 billion euros in private markets strategies for the parent company Allianz and external clients.

Also last year, there were also discussions with Amundi. A merger of AGI with the French fund provider was reportedly being explored. The two sides were unable to agree on the structure of a transaction, and the talks are currently on hold.