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Closing of CRE Senior 10 with c. €1.5 billion

Closing of CRE Senior 10 with c. €1.5 billion

Press Release
13 September 2017

AXA Investment Managers - Real Assets closes CRE Senior 10 with c. €1.5 billion, taking total debt platform to over €14 billion of commitments

- c.€400 million of funds already invested, c.25% of which in US mortgage loans and bonds -

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe, announces that it has successfully closed its tenth commercial real estate senior debt fund, CRE Senior 10(2) (“the Fund”), having achieved its capped target of c. €1.5 billion. This milestone fund closing takes AXA IM - Real Assets’ total debt commitments to over €14 billion.

Over 25% (c. €400 million) of the Fund has already been deployed, a quarter of which is through transactions in the U.S., with CRE Senior 10 being AXA IM - Real Assets’ first debt fund to have an initial mandate in the region, with an allocation of up to 25% of the total fund permitted. This expanded reach is supported by the continuing strength of the U.S. economy and underpins AXA IM - Real Assets’ 360° approach to investing in real assets, by sourcing opportunities in equity or debt, across different geographies and sectors, as well as via private or listed instruments.

Commitments for the Fund have been received from 19 institutional investors, spread across various European countries, 84% of whom have invested previously in AXA IM - Real Assets’ real estate debt platform, as well as 4 new clients. This latest achievement re-affirms AXA IM - Real Assets’ position as one of the leading(3) debt platform among Europe’s non-banking lenders, having been the first to enter the market in 2005.

Timothé Rauly, Head of Funds Group at AXA IM - Real Assets, commented: “Reaching our tenth debt fund is a milestone achievement and shows the scale of our business together with the commitment of our clients. The fact that we have already deployed over 25% demonstrates our ability to continue to deliver on our plans. It also reinforces our strategy of capping our fund raise to ensure our clients’ funds are not sitting idle but are deployed as rapidly and prudently as possible. We have already started deploying funds in the U.S. through mortgage loans and bonds in line with our policy of broader allocation in the country. With more than a decade of debt finance experience, we have the technical expertise and physical presence across key markets. This supports us in helping institutional investors navigate global markets as they seek to diversity by risk profile, income type, and geography.”

- ENDS –

Press Contacts

AXA Investment Managers – Real Assets
Charline Coué, Media Relations Manager
Jocelyne Tamssom, Head of Communications
Tel: +33 1 44 45 97 95
PressOfficeAXAIMRealAssets@axa-im.com

FTI Consulting Inc.
Richard Sunderland, Richard Gotla, Ellie Sweeney, Tom Gough
Tél: +44 20 3727 1000
AXAIMRealAssets@fticonsulting.com         

1) Source: INREV/ANREV Fund Manager Survey – May 2017 / By unlisted/direct real estate assets under management
2) CRE Loans SCS-SIF – CRE Senior 10 which is managed by AXA REIM SGP, a subsidiary of AXA IM - Real Assets.
3 ‘European debt capital raising of the year’ and the ‘European insurance company lender of the year’ (Real Estate Capital - 2015), ‘Real Estate Debt Manager of the Year, Europe’ (Private Debt Investor - 2015). (Past performance is not a reliable indicator of future results

Note to editors

AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world. With approximately €735 billion in assets under management as of end June 2017, AXA IM employs over 2,450 people based in 29 offices around the world.

AXA Investment Managers - Real Assets has over €71 billion in assets under management, including €54.5 billion in direct property & infrastructure and €13.6 billion in real asset finance as of end of June 2017. We offer a 360° approach to investing in real assets, which comprises opportunities in equity or debt, across different geographies and sectors, as well as via private or listed instruments. We are a global leader in real assets investment, the number one property portfolio and asset manager in Europe(1), and one of the largest worldwide. Our teams have been managing funds and mandates for over 30 years and comprise about 600 people in 15 offices that operate in 20 countries around the world, which provide us with in-depth knowledge of countries, cities and sectors.

AXA Investment Managers is part of the AXA Group, a global leader in financial protection and wealth management.

Visit our websites: www.axa-im.com / https://realassets.axa-im.com

Follow us on Twitter @AXAIM / @AXAIMRealAssets to get our latest information

1) Source: INREV/ANREV Fund Manager Survey – May 2017/ By unlisted/direct real estate assets under management

This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and may be subject to change without notice. This does not constitute a Financial Promotion as defined by the Financial Conduct Authority. This is for information purposes only. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise.

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