Allianz Global Investors has announced that its second European infrastructure equity fund has reached its first close at EUR880 million (US$966.53 million).

Launched in December 2021, the Allianz European Infrastructure Fund II (AEIF II) intends to invest in energy, communication, transport, environmental and social sectors. The AEIF II will mainly invest in attractive and long-term infrastructure across Europe while being able to pursue opportunities selectively also in OECD countries outside Europe.