AXA IM – Real Assets raises €800m for core European fund
AXA Investment Managers – Real Assets has raised €800 million ($841 million) for AXA CoRE Europe Fund, its core, open-end pan-European real estate fund, which launched in 2016.
Total capital commitments for all of the firm’s funds in the market were received throughout the year from a diverse range of third-party institutional investors, retail investors and family offices, as well as from AXA Insurance Cos. Geographically, the capital derived from Europe, the Middle East, North America and Asia and was directed approximately 50-50 toward debt and equity investments.
During 2016, AXA IM – Real Assets launched its first commingled infrastructure debt fund, European Infra Senior 1, which raised €900 million ($946 million), continuing the success of its €14 billion ($14.7 billion) real assets debt platform, which also launched its 10th real estate senior debt fund, CRE Senior 10, having raised €1.4 billion ($1.5 billion).
In November, AXA IM – Real Assets held a final close for its Development Venture IV, raising €600 million ($643 million) in equity commitments from 17 investors across nine countries.