Isabelle Scemama, global head of AXA Alts IM, is to oversee more than €300bn in alternative assets ahead of the legal merger between AXA Investment Managers (IM) and BNP Paribas Asset Management (BNPP AM), expected by the end of the year.

Scemama is part of “transitional leadership” announced today by AXA IM, which is now part of BNP Paribas Group, and BNPP AM, alongside Rob Gambi, who will lead the combined liquid investment capabilities across AXA IM Core and BNPP AM, in addition to his current role as global head of investments at BNPP AM.

Last year, BNP Paribas announced its intention to acquire AXA’s €844bn investment management business. At the time, IPE Real Assets reported that the merger could see the creation of two enlarged real estate and infrastructure fund managers with assets under management (AUM) of €108bn and €19.7bn, respectively.

According to most recent figures, AXA IM Alts manages some €186bn of assets, including €81bn of primarily private real estate, over €93bn of private debt and alternative credit, and €12bn in Infrastructure and private equity.

The combined alternatives business will have an AUM of more than €300bn, including more than €26bn of real estate that was managed by BNP Paribas Real Estate Investment Management, and over €7bn in infrastructure.

Scemama, who joined AXA IM-Real Assets in 2001 and was later appointed global head of AXA IM Alts in 2020, will part of a transitional leadership ahead of the implementation of a “final operating model” between the two merged firms.

Scemama and Gambi will report to Sandro Pierri, CEO of AXA IM and BNPP AM, who said: “These appointments are intended to guide the investment platforms through the period of integration.”

Pierri added: “I have complete confidence in Isabelle and Rob’s exceptional leadership abilities to guide our teams through this transition. Their deep expertise and proven track records will be instrumental in ensuring continuity and driving us forward, as we remain steadfast in our commitment to delivering unparalleled value to our clients.”

To read the latest IPE Real Assets magazine click here.

Richard Lowe is editor of IPE Real Assets, overseeing all editorial content and direction of the publication. He took on the role in 2011 and has since then expanded the focus of the magazine from real estate markets to include other real assets such as infrastructure, agriculture and forestry.View full Profile

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