Allianz Global Investors has hired Adrian Grammerstorf as a director covering European private credit as part of its ongoing push into alternative assets. Based in AllianzGI’s Munich team, Grammerstorf will be responsible for developing the company’s mid-market debt investment activity across Germany. Grammerstrof, who will report to Damien Guichard, head of European private credit, joins from UniCredit where he was director, financial sponsors and leveraged finance.