MUNICH, Jan 15 (Reuters) - Allianz may raise its private equity investments to around 30 billion euros ($43.3 billion) in the coming years, or double the current level, board member Paul Achleitner said on Friday.

The surge is part of a broader build up in alternative investments at Europe's biggest insurer, with more money also flowing into real estate, renewable energy and infrastructure, Achleitner told a press briefing.

'There are more interesting possibilities now than a couple of years ago,' Achleitner said, stressing that the amount to be invested was not set in stone but depended on the profitability of investment opportunities.

'We have a long investment horizon,' he added.

Allianz may also pump a further 15 billion euros into real estate in the coming years on top of its current investment of around 8 billion euros, Achleitner said.

Of the insurer's 400 billion euros in invested assets, which it uses to meet its long-term obligations to policy holders, nearly 10 percent is now in equities.

'We're comfortable with that,' Achleitner said, adding that Allianz aims to achieve a return on investment of 4.5-5 percent. ($1=.6931 Euro) Keywords: ALLIANZ/INVESTMENT

(Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242)

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