New funds launch in Q1
A total of 47 new investment funds were launched during first quarter 2016, the highest number of funds launched since first quarter 2014, which saw 48 new funds, according to Institutional Real Estate FundTracker. As a group, they are seeking to raise approximately $56 billion.
Funds with a European strategy dominated the geographic focus, with a targeted fundraising volume of $31 billion (55.8 percent), as well as accounting for the two largest funds launched in first quarter 2016.
AXA Investment Managers – Real Assets’ AXA CoRE Europe, a new pan-European open-end fund, initially has raised more than $551 million from a range of European institutions. The fund will seek to provide institutional investors with long-term, stable income through the acquisition of core real estate assets across Europe, capitalizing on individual market dynamics and timing. Over the long term, AXA IM – Real Assets aims to grow AXA CoRE Europe into a flagship European fund w