AGF Alternative Asset Management and Allianz Hedge Fund Partners, both subsidiaries of German insurance titan Allianz Group, have agreed to team up to provide a new single platform for hedge fund of fund assets.
The combined operation will be headed by Jean-Francois Vert, CEO and chief investment officer of AGF Alternative Asset Management (AAAM). It will have headquarters in Paris, France, with an office in New York.
The creation of one single platform for the hedge fund of funds assets is in line with Allianz’ strategy to simplify its operations. At present, the combined entity has over $10 billion in assets under management.