AXA Investment Managers - Real Assets (AXA IMRA) carried out a record €13.6 bn of equity and debt transactions globally during 2016 and expects to do a similar level of transactions this year.
AXA IMRA was an active trader of direct property and infrastructure assets across its global platform last year, as well as private and listed debt. The investment manager completed €8.3 bn of equity transactions and €5.3 bn of debt investments during 2016.
In a statement, AXA IMRA said a total of €3.2 bn of assets was acquired on behalf of its clients in Europe. This included the Tour First office tower and a direct infrastructure investment with a stake in motorway A63 in France, as well as a major portfolio of 17 German healthcare properties for €310 mln. Over €1 bn was invested in France, over €500 mln in Germany and over €300 mln in the UK.
European disposals totalled €2.2 bn.
AXA IMRA is ranked 6th in PropertyEU's newly published Top 100 Investor ranking of real estate based on total transaction volume of €5.6 bn in Europe in 2016. The ranking excludes infrastructure and debt.
The investment manager also carried out €330 mln of acquisitions and €2.5 bn of disposals in the US, and €129 mln of sales in Asia.
Outlining its plans for the year ahead, AXA IMRA said it would seek further investment in student and retirement accommodation, data centres and logistics assets, as well as core office properties in dominant global cities.
'In what was a competitive market environment during 2016, we remained resolute in our focus on broadening the types of real assets we invest in and on expanding our international reach,' said Isabelle Scemama, CEO of AXA IMRA.
'We transacted on some of the market’s biggest deals, including the tallest building in France. Our 360° investing approach in multi-assets together with our capability in both equity and debt investments means we have been able to meet our clients’ demand for diversification in product types. This, combined with our growing global footprint, means we can source transactions for clients across the world’s built environment.
'2017 is about continuing to expand globally whilst carefully navigating the changing market environment. We will look at liquid markets as well as assets where we can pursue active asset management or development to create value for our clients. We will also focus on assets with underlying secular trends, such as healthcare, student housing or data centres. We will continue to focus on investing from a debt or equity perspective both in real estate and infrastructure, all with the objective of serving client needs.'
