AXA Investment Managers – Real Assets has raised €800m (£685m) for the open-ended pan-European real estate fund it launched last year.
The AXA CoRE Europe Fund was launched last March with €500m in equity to invest in prime cities across the continent, with a focus on the UK, Germany and France.
It has raised €300m since then, and the total target for the fund is between €3bn and €5bn in the long term.
In total, the company raised a record €8bn in capital in 2016. It raised close to €1bn for club deals and joint ventures, and €600m in its fourth development venture fund.
AXA said it had expanded its client base over the year, with a growing number of small and mid-sized institutions.
Isabelle Scemama, chief executive of AXA IM – Real Assets, said: “We have had a record year in terms of capital raised, underlining the continued appeal of the real assets sector and the attractiveness of the opportunities we have brought to our clients, which cover the entire real assets spectrum via both debt and equity.”
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