AXA IM Alts has secured €660 million ($714 million) of additional capital commitments from a mixture of new international institutional and sovereign wealth fund investors for its European Student Accommodation Strategy (ESAS).
Subject to several conditions precedent mentioned below, this takes committed equity into the strategy to €1.3 billion ($1.4 billion), as AXA IM Alts looks to increase investment into the high-growth European purpose-built student accommodation (PBSA) and co-living sectors.
The strategy has been seeded with AXA IM Alts’ The Boost Society (ex-KLEY Group) platform, which includes a fully integrated student housing and co-living operator and portfolio that was originally formed in October 2019 when AXA IM Alts acquired KLEY Group, a 2,900-bed fully integrated French student housing and co-living operator. Since then, AXA IM Alts has grown the platform to become one of the leaders in the European PBSA and co-living space, with a high-quality p
