Allianz seeks equity manager, eyes more alternatives

The Asian arm of German insurer Allianz is likely to outsource more of its portfolio to external fund houses as it moves to diversify beyond traditional fixed income and domestic investments. It is seeking a manager for a global equity portfolio and eyeing more alternative assets, in particular infrastructure and private debt. Allianz IM outsources a smaller percentage of its €25 billion ($27.5 billion) Asian portfolio than it does globally, because in most countries in the region…