Allianz to double PE allocation

German insurer Allianz is looking to raise its private equity investments to €30bn in the coming years, or double the current level.

The increase in its private equity allocation is part of the company’s plan to build up its alternative investments. The company also plans to increase its real estate allocation from €8bn to €15bn, as well as upping its renewable energy and infrastructure investments.

The insurer currently invests nearly 10% of its €400bn in invested assets in equities.