AEW, the real estate asset management arm of Natixis Investment Managers, has completed a further close for Residys, a fund targeting residential real estate assets in France, predominantly in the Paris region, raising an additional €165 mln from institutional investors.
The closing takes the fund’s total commitments to around €320 mln, giving it an investment capacity over €500 mln.
The latest fundraising involved a combination of three new investors - a Dutch pension fund, an Italian insurance company and a German pension fund - and two existing clients which increased their equity commitments in the fund.
Since its launch in 2017, the fund has completed 12 acquisitions totalling €220 mln mainly across Paris and the Paris Region, representing almost half of the fund’s investment capacity.
'This latest fundraising for Residys, our first fund dedicated to French residential real estate, marks an important milestone by introducing new high-quality international investors to our client roster,' said Stephane Sebban, fund manager of Residys at AEW.
'Additionally, it demonstrates the continued appetite for this sector, which we believe is set to benefit from positive demographic and urbanisation trends. We will now focus on progressing our investment pipeline and expanding Residys portfolio of high- quality assets.'
AEW manages nearly €30 bn of real estate assets in Europe on behalf of a number of funds and separate accounts.
