AXA Investment Managers – Real Assets, a global real asset investor and European real estate portfolio and asset manager, has raised €643 million ($733 million) for its second Pan-European Value-Added Venture (PEVAV II) from a global institutional investor base.
The capital raised has exceeded its €500 million ($570million) target and provides an investment capacity of up to c. €1.3 billion ($1.5 billion), including leverage, to invest in value-add opportunities throughout Europe.
More than 60 percent of the equity raised was from follow-on investors from AXA IM – Real Assets’ first value-add venture, PEVAV, which closed in May 2016 having raised €445 million ($507 million) and is now realizing its portfolio. €240 million ($274 million) of equity was raised from five new institutional clients from Europe, Israel and South Korea.
PEVAV II will seek to invest in and create value from underperforming assets with inherently core qualities through a
