AlTi Tiedemann Global and Allianz X have formed a private markets joint venture program focused on investing in global private debt opportunities on behalf of ultra-high-net-worth clients.
The AlTi-Allianz Private Debt Program will use a semiliquid evergreen structure to invest in the estimated $1.5 trillion market for private debt, also known as private credit. The program will cover various regions, segments and risk-return profiles, including direct access to secondaries and co-investments.
Allianz X is the venture capital arm of the German financial services giant Allianz. In February, Allianz X announced an investment of up to $300 million in AlTi Tiedemann Global, which offers multi-family office services and is a publicly traded stock on the Nasdaq.
“We are delighted to offer our clients unique access to Allianz’s world-class network of third-party managers at attractive terms and with additional access to co-investments and secondaries,” said Michael Tiedemann, CEO of AlTi Tiedemann Global. “We believe the combined resources of our platforms will provide current and prospective clients with an offering that is unmatched in the alternatives investment space.”