AXA IM Alts announces €800m first closing of fifth-generation development strategy

AXA IM Alts has raised €799 million ($945 million) in a first closing of it’s fifth-generation development strategy.

The investor base included five Asian, North American and European institutions, some of which were existing investors in the firm’s four generations of previous development strategies.

This new opportunistic strategy will be capable of investing across all asset classes, but will primarily focus on the development of office and residential assets in locations that have shown long-term liquidity, and which are set to benefit from urban infrastructure investment. The firm believes these sectors offer a compelling investment case characterized by structural supply demand imbalances, and are benefitting from themes such as urbanization and technology-led changes in how people live, work and play.

“Whilst development activity slowed during 2020, a flight to safety will prolong capital targeting modern office and residential assets in prime and