Key Takeaways
- • Allianz Global Investors (AllianzGI) acted as lead investor in KKR's first secondaries transaction for its direct lending platform, a private credit continuation vehicle.
- • The transaction provides access to a diversified portfolio of predominantly senior, US-focused direct lending investments, according to AllianzGI.
- • Alexander Li, senior portfolio manager in AllianzGI's global private credit division, said the deal shows the growing role secondaries can play in providing flexible solutions for established private credit portfolios.
- • The deal follows AllianzGI's earlier co-lead role in Crescent Capital's $3.2bn (£2.4bn) private credit continuation vehicle.
Summary
Allianz Global Investors (AllianzGI) has acted as lead investor in KKR's first secondaries transaction for its direct lending platform, a continuation vehicle structure in private credit. According to AllianzGI, the investment gives investors access to a diversified portfolio of predominantly senior, US-focused direct lending investments. The firm announced the transaction in a LinkedIn post.
Alexander Li, senior portfolio manager in AllianzGI's global private credit division, said the transaction demonstrates the increasingly important role secondaries can play in providing flexible solutions for established private credit portfolios. He added that the deal underscores the opportunity for experienced secondary investors to play a strategic role as the private credit secondaries market continues to grow.
George Mueller, partner in KKR's credits and markets division, said the firm was pleased to expand its relationship with AllianzGI through the transaction.
The transaction follows AllianzGI's earlier co-lead role in Crescent Capital's $3.2bn (£2.4bn) private credit continuation vehicle, earlier in 2026. The article also references AllianzGI's recent first close of a €1.2bn second private debt secondaries fund, indicating continued activity in the secondaries segment of private debt.
Alexander Li, senior portfolio manager in AllianzGI's global private credit division, said the transaction demonstrates the increasingly important role secondaries can play in providing flexible solutions for established private credit portfolios. He added that the deal underscores the opportunity for experienced secondary investors to play a strategic role as the private credit secondaries market continues to grow.
George Mueller, partner in KKR's credits and markets division, said the firm was pleased to expand its relationship with AllianzGI through the transaction.
The transaction follows AllianzGI's earlier co-lead role in Crescent Capital's $3.2bn (£2.4bn) private credit continuation vehicle, earlier in 2026. The article also references AllianzGI's recent first close of a €1.2bn second private debt secondaries fund, indicating continued activity in the secondaries segment of private debt.
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