AEW Europe's capital raising hits €1.8b

AEW Europe has further expanded its platform, raising €1.8 bn in capital in 2012 for its fund strategies, separate institutional mandates and club deals.

The figure represents a 13% increase over the previous year, the Paris-based investment manager said. About €1.2 bn of this total came from new investment mandates.

'We have been able to continue to attract growing capital commitments from existing and new clients despite difficult market conditions,' said Christian Delaire, CEO AEW Europe. 'This is recognition of AEW Europe’s track record, ability to access assets, and also innovation in areas such as real estate debt.'

AEW Europe’s transactions totalled €2 bn in 2012, with acquisitions of €1.2 bn, including well-known assets like the EDF Tower in La Défense and the Oxygène Tower in Lyon, but also a number of smaller assets for AEW UK’s Core Property Fund.

Disposals totalled €800 mln last year, including the recent sale of the Austerlitz II office building in Paris.

AEW Europe also launched, in partnership with Natixis Asset Management, a Senior European Loan Fund in 2012, which had a first capital close at €240 mln and has a final close target totalling €500 mln.

AEW Europe also further reinforced the team for its private equity real estate platform with the appointment of Simon Blaxland as executive director for the European Partners Fund, which is targeting distressed European real estate.

Blaxland formerly held positions in the property investment teams of GE Real Estate and Goldman Sachs and most recently has been operating as a local partner in Spain for a number of well-known opportunistic real estate investors.