AXA IM raises €240m for Euro logistics fund

AXA Investment Managers - Real Assets has raised €240m (£213m) for its Logistics Development Club fund.

The fund, which aims to develop around 10.8m sq ft of logistics space, raised the funds from four international institutional investors.

Logistics Development Club was launched in July 2016 and has already secured four sites to be developed in France, Germany and the UK which, once complete, will deliver a total of around 2.7m sq ft space.

The fund forms part of the AXA IM - Real Assets’ wider logistics real estate strategy which includes an existing pan-European logistics portfolio currently valued at €1.7bn and comprising around 27m sq ft of space.

Arnaud de Jong, logistics development club’s senior fund manager at AXA IM - Real Assets, said: “The successful close of the Logistics Development Club demonstrates our ability to leverage the wider range of skills we have across the AXA IM - Real Assets’ European platform in order to provide our clients with opportunities to invest in the logistics sector at different entry points and across different risk profiles. Logistics Development Club allows us to capture opportunities in the cycle and create value for our clients through the development of an institutional-quality logistics product designed to meet the evolving requirements of occupiers. We firmly believe that the ongoing structural changes in supply chains, e-commerce and consumer behaviour will continue to drive demand for logistics space.”

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