Pacific Investment Management Co. (Pimco) is taking over the management of Allianz Real Estate, with the two companies forming a combined unit with more than €88.3 billion (USD 100 billion) in assets, as reported by the US firm. The Allianz Group has a portfolio of real estate assets worth more than €70 billion (USD 79 billion) in Europe, the United States and the Asia-Pacific region.
Pimco, who managed USD 1.9 trillion at the end of 2019, is best known as a fixed-income investment manager and will oversee the combined real estate unit under its private strategies platform.
