03 October 2017
London
Reporter: Theo Andrew

Core-European fund hits €1 billion, says AXA IM - Real Assets


The AXA Investment Managers - Real Assets core European fund, AXA CoRE Europe, has hit €1 billion in investment since its €500 million seeded launch in March 2016.

The fund, which has already invested €830 million of the capital raised, hopes to achieve long-term stable income through acquiring core European assets.

In July, the fund purchased a 1.2 million-square metre logistics portfolio from Gramercy, as part of a consortium of AXA IM - Real Assets clients, for €1 billion.

AXA CoRE Europe’s portfolio spans across seven countries, including France, Germany, Italy, Spain and the UK and comprises of 44 assets split between office (49 percent), logistics (35 percent) and retail (16 percent).

Investments into the fund have been received from across Europe, North America and Japan, including 23 third-party clients.

Rainer Suter, fund leader for AXA CoRE Europe, said: “Our ability to invest alongside with clients of AXA IM - Real Assets allows the fund to access some of the largest and best quality investments on the market and we believe that this is a clear competitive advantage which has allowed us to assemble such as a significant portfolio.”

He added: “We have also been selective in our approach to acquisitions to ensure we have both secure and highly visible income streams and the opportunity, where possible, to add further value through leasing and other asset management activity.”

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