Description Its Dickensian name notwithstanding, Nicholas-Applegate Capital Management is less Oliver Twist and more Adam Smith. Part of Allianz Global Investors of America (itself a subsidiary of German insurance giant Allianz ), Nicholas-Applegate manages equity portfolios for institutional clients by employing quantitative, growth, international, and other investment strategies. It also manages closed-end funds and mutual funds for institutional and retail investors. Arthur Nicholas and Fred Applegate (now retired) founded the firm in 1984. Allianz acquired Nicholas-Applegate in 2001.