AXA Investment Managers-Real Assets has raised around €800m for its core pan-European fund.
The open-ended AXA CoRE Europe Fund, which launched last year, has a €1bn investment capacity.
AXA IM is one of a number of investment managers looking to grow their pan-European open-ended funds in the face of growing demand from investors.
As reported by IPE Real Estate last year, AXA IM provided €500m in cornerstone capital at the beginning of 2016 and the fund had brought in €150m of third-party money by September.
Charles Daulon du Laurens, European head of sales, told IPE Real Estate that the ambition was to grow a multi-billion-euro fund and the majority of that capital would have to come from third-party investors.
AXA IM also said today that it raised a record €8bn of commitments across its real estate strategies last year.
The capital came from a range of small, medium and large third-party institutional investors, as well as retail investors and family offices and AXA insurance companies.
It was split fairly evenly between debt and equity strategies.
Isabelle Scemama, chief executive, said AXA IM had diversified its client base with a growing number of small and mid-sized institutions.