AXA Investment Managers (AXA IM) has closed its 10th commercial real estate (CRE) senior debt fund, CRE Senior 10, having raised around 鈧�1.5bn from 19 European institutional investors.
Timoth茅 Rauly, head of funds group at AXA IM Real Assets, said: 鈥淲e have already started deploying funds in the US through mortgage loans and bonds in line with our policy of broader allocation in the country.鈥�
The sum invested in the US is more than a quarter of the total amount of the capital AXA IM has already deployed, the firm said.
The total of initial investments is around 鈧�400m.
The fund is to have an initial mandate in the US, through which it is permitted to allocate up to 25% of the total fund.
鈥淭his expanded reach is supported by the continuing strength of the US economy and underpins AXA IM Real Assets鈥� 360掳 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,鈥� the company said.
AXA announced in January that it had in this latest fund.
It said the fundraising 鈥� which achieved the fund鈥檚 capped target 鈥� brought AXA IM鈥檚 total debt platform to over 鈧�14bn of commitments.
Some 84% of the investors backing the new fund had invested through AXA IM Real Assets鈥� real estate debt platform before.
