Axa Real Estate raises €2.9bn for its ninth European debt fund

Kasmira Jefford
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AXA REAL Estate Investment Managers said yesterday it has raised €2.9bn (£2.04bn) for its ninth debt fund, making it one of the largest commercial real estate (CRE) senior loan funds in Europe.

The asset manager said the senior debt fund CRE9 had exceeded its €2.5bn target at final close after receiving commitments from 18 institutional investors from countries including the UK, the Netherlands and Germany.

The company said it has also been awarded a separate £350m investment mandate from a major UK pension fund.

As a result, its overall real estate debt platform has €11.3bn of commitments, of which €1.8bn was raised in the last six months and €9bn has already been invested.

“Our latest close is testament to our strong performance and proven track record within the debt market,” the company said.