South Korea’s POBA commits to AXA IM’s €1.9b life sciences fund

IREI has learned that South Korea's Public Officials Benefit Association (POBA) contributed €80 million ($95 million) to AXA Investment Managers' life sciences fund, which recently hit €1.9 billion ($2.2 billion) of equity commitments.

The capital raised for AXA IM’s life sciences fund will primarily be invested through Kadans Science Partner, a fully integrated developer, owner and operator of European science parks and lab offices, which AXA acquired in December 2020.

According to The Korea Economic Daily, POBA made the investment through a co-investment fund of funds, which is managed by Kyobo AXA Investment Managers.

The fund of funds, known as Kyobo AXA Global Real Estate Co-investment Fund No.1, was established to invest in funds managed by AXA IM Alts, targeting emerging real estate sectors such as logistics, data centers, life science offices and