The latest in funds and investments across Asia-Pacific.

Allianz
Allianz, the European financial services group, has become a strategic investor in a closed-end property fund focused on Greater China.

The firm has taken a 35 per cent stake in the KaiLong Greater China Real Estate Fund II. The remaining 65 per cent of the shares will be held by “like-minded long-term institutional investors”. KaiLong is aiming to raise $500 million in equity, a statement from Allianz said.

The transaction was taken by Allianz real estate and asset management arm. Allianz, which is based in Munich, intends to deploy around 10 per cent of its real estate portfolio to the Asian region.

KaiLong Group, a privately-owned institution, was founded in 2004 and oversees about $1.7 billion of assets.