AXA Investment Managers – Real Assets has raised €1.4bn (£1.2bn) for its latest commercial real estate senior debt fund, Commercial Real Estate Senior 10.
Commitments have been received from 12 institutional investors from various European countries. A final close is expected during the first half of 2017.
The fund is the 10th generation of AXA’s CRE senior funds and brings its debt platform to a total of €13bn of commitments.
The new fund is the first to have an initial mandate to invest in US loans, with an allocation of up to 25%, to capitalise on the strength of the US economy.
Timothé Rauly, head of CRE finance, said: “The size of commitments received shows both the confidence in our ability to deliver strong returns to investors via the debt markets, whilst also demonstrating the growing appetite for commercial real estate debt. Our size remains a key competitive advantage to offer access to significantly larger debt investments that offer value for clients.”
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