Allianz Global Investors (AllianzGI) has announced the first closing of the Allianz Resilient Opportunistic Credit (AROC) fund. 

With a target volume of EUR750 million (US$850.14 million), The AROC fund reached commitments totaling EUR435 million (US$494.43 million) at the first closing. Fundraising for the fund will continue in 2022.

The fund targets an average portfolio credit quality of B+ and invests in tangible assets, with a focus on capital-intensive infrastructure companies with high barriers to entry and exit. The fund invests in OECD countries, targeting Europe and the UK, and has an integrated ESG strategy with robust ESG risk mitigation.