AXA Investment Managers raised €3.7bn (£3.2bn) for real estate equity strategies in 2020, with its executive chairman saying the past year has shown “the importance of active management in volatile markets”.
That figure includes €2.1bn raised for AXA IM Alts’ real estate open-ended fund range, the largest constituent of which is its pan-European core diversified strategy.
The Alts division as a whole – which brings together AXA IM’s real estate equity, private debt and alternative credit, private equity, infrastructure and hedge funds activities – raised more than €14.6bn during the year. Alongside real estate equity, a significant chunk was directed to private debt and alternative credit.
At group level, 2020 revenue of almost €1.3bn was up 4% year-on-year, with underlying earnings up 6% at €279m.
Executive chairman Marco Morelli said: “This past year has evidenced the importance of active management in volatile markets… We have stayed committed to our clients, developed new business, launched new products and hired and promoted talent. I am convinced that the strategic initiatives we have undertaken will continue to foster future growth.”
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