AXA IM – Real Assets raises €1.4b for new real estate debt fund

AXA Investment Managers – Real Assets has raised €1.4 billion ($1.5 billion) for its latest commercial real estate senior debt fund, Commercial Real Estate Senior 10. A final close is expected during the first half of 2017.

CRE Senior 10 is AXA IM – Real Assets’ first fund to have an initial mandate to invest in U.S. loans, with an allocation of up to 25 percent, as it looks to further capitalize on the continuing strength of the U.S. economy. AXA IM – Real Assets has been investing in U.S. real estate debt since 2014, as part of its wider expansion into the U.S. real estate market.

Commitments have been received from 12 institutional investors, from various European countries, some of whom have invested previously in AXA IM – Real Assets’ real estate debt platform.

The fund is the 10th generation of AXA IM – Real Assets’ CRE Senior funds and brings its debt platform to a total of €13 bill