Allianz Real Estate and PIMCO property platforms to merge

摘要

Allianz Real Estate is set to merge with PIMCO's property platform in a deal that will create a real estate investment manager with in excess of $100bn (£77bn) of assets under management. PIMCO has been owned by German insurer Allianz since 2000, but Allianz's investment management arm Allianz Global Investors has historically operated as a separate fund manager to PIMCO. The decision to merge the firms' real estate marks a shift away from this policy.