Allianz Global Investors has raised $270m in commitments for the first close of its Allianz Asia Pacific Infrastructure Credit Fund, the firm announced on Monday.

The new private credit vehicle, which has a final close targeted for 2027, will focus on providing senior and unitranche private credit solutions to infrastructure and infrastructure-adjacent businesses across South and Southeast Asia.

The fund, which received cornerstone commitments from the International Finance Corporation (IFC) and Indonesia Investment Authority (INA), will invest in sectors such as energy transition and renewables, digital infrastructure, power transmission, transportation and logistics, and environmental services such as water and waste management.

AllianzGI said the fund is designed to address a structural financing gap in the region, where traditional bank and capital markets funding has failed to keep pace with surging infrastructure demand.

Sumit Bhandari, head of Asia private credit at AllianzGI, said: “South and Southeast Asia continue to present compelling opportunities, supported by strong structural demand for infrastructure and a clear role for private credit in addressing financing gaps.”

“We believe this fund is well positioned to provide investors with access to resilient, asset‑backed income while supporting the development of essential infrastructure across the region.”

Allen Forlemu, regional industry director, financial institutions group, Asia Pacific at IFC said: “Addressing infrastructure financing gaps in South and Southeast Asia is critical to sustaining growth, strengthening job creation, supporting the energy transition, and expanding access to essential services.”

“This fund underscores the important role of private capital in complementing public financing and advancing bankable, resilient infrastructure.”

Merlissa Trisno, director of funds and capital partnering, INA, said: “Our participation reflects INA’s disciplined approach to investing in opportunities aligned with our sector priorities.”

“The inclusion of an Indonesia nexus is particularly important, as it creates a pathway for international institutional capital to support Indonesia-linked opportunities and generate broader multiplier effects.”