AXA Real Estate Investment Managers has been appointed by French pension scheme ERAFP to manage a new 鈧�350 mln pan-European investment mandate .
AXA Real Estate Investment Managers has been appointed by French pension scheme ERAFP to manage a new 鈧�350 mln pan-European investment mandate .
AXA Real Estate, through its regulated entity AXA REIM SGP, won the 10-year discretionary investment mandate following a competitive public tender.
ERAFP 鈥� 脡tablissement Retraite Additionnelle de la Fonction Publique - manages the retirement benefits of French government and local authority civil servants as well as the staff of French public hospitals. The pension group has 鈧�14 bn of assets under management and can allocate up to 10% to real estate.
AXA Real Estate said that it will seek to build a portfolio which is diversified by geography and sector. The investment manager will primarily target Core or Core Plus investments, with a key element of the investment mandate being to adhere to specific and demanding SRI (Socially Responsible Investment) investment guidelines.
'Winning a new third-party investment mandate from such a high profile and well respected investor as ERAFP is a strong testament to our ability to meet the needs of clients to invest on their behalf both across Europe, using our network of local real estate professionals, and across the entire risk spectrum,' said Pierre Vaquier, chief executive officer of AXA Real Estate. 'For this mandate we are also able to align our own commitment to sustainable investment with the investor鈥檚 stated strategy of managing its assets in compliance with strong SRI principles.'
