Allianz to merge Pimco and Allianz Real Estate, manage over EUR100 billion in real estate

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/ EdgeProp Singapore
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March 11, 2020 5:10 PM SGT
Allianz to merge Pimco and Allianz Real Estate, manage over EUR100 billion in real estate
SINGAPORE (EDGEPROP) - In a move to create one of the largest global real estate investment managers, Allianz has announced its plan for subsidiary firm Pimco to run its real estate arm, Allianz Real Estate.
The move will combine the group’s asset management across Europe, the US, and Asia Pacific, managing over EUR100 billion ($157.7 billion) in properties.
Currently, Allianz Real Estate manages more than EUR70 billion in assets.
Jackie Hunt, member of the board of management of Allianz SE, says: “Bringing two high-performing, complementary specialist parts of the business together puts us in a position to provide customers with a more comprehensive solution in real estate capabilities and strengthens our position in alternatives, where we are already among the top 10 global players.”
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Allianz, based in Munich, Germany, acquired US-based Pimco in 2000.
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