Global alternative investment firm AXA IM Alts is looking to grow its presence in North America, particularly the US, and has tapped one of its own to move to the US and lead the effort.
AXA IM Alts said it appointed Stephane Ackerman to fulfill the new role of Client Group Leader, North America.
Ackermann most recently served as head of the client capital group in the Asia-Pacific region and the United States. In his new role, he plans to focus on the firm’s capital raising activities in North America to work on expanding AXA’s strategies in commercial real estate and private debt as well as private equity. -investment and environmental, social, governance and impact investments.
Ackermann moved to AXA IM Alts’ New York office of his London office focus on North America.
AXA said the appointment is part of “the continued expansion of its international platform, enabling it to better serve its global customer base and achieve its significant growth ambitions in the Americas region and the United States in particular.”
AXA’s decision to expand its presence comes as cross-border investment in the United States increases. In the fourth quarter, cross-border investment in U.S. real estate grew 115% year-over-year, to $29 billion, and accounted for about 10% of the $296 billion overall volume, report says from CBRE.
For the year 2021, foreign capital accounted for $56 billion, or 7.5% of the total US commercial real estate investment volume of $746 billion, CBRE said in the report.
AXA IM Alts has $17 billion in assets under management in the United States and operates offices in Greenwich, Connecticut, and atlanta metro in addition to New York. Some $6 billion of its assets under management are direct equity investments, while the remaining $11 billion are leveraged investments.
In 2021, AXA IM Alts completed real estate transactions worth $1.4 billion, the largest being its $1.2 billion acquisition. of a portfolio of 23 properties. AXA IM Alts purchased the portfolio of Dermody Properties Industrial Fund II, and Reno, NevadaDermody Properties, based in New York, has partnered with AXA as part of this agreement. Dermody Properties serves as the COO for their business.
Florence Dardglobal head of client group at AXA IM Alts, said Ackermann’s appointment to the new North American leadership role is significant for the company, which has played a major role in expanding its business in the United States. United when it acquired one of the lines of Quadrant Real Estate Advisors in 2020. America-focused business that added $10 billion in assets under management in the country.
“Stephan’s appointment not only reflects the rapid growth of AXA IM Alts’ US customer base, but also underscores once again the significant ambitions we have for the North American region, both in terms of raising capital and place of investment,” Dard said. in a report.
In February, AXA IM Alts strengthened its presence in the United States by appointing Fiona Choi Kurz as Senior Sales Manager. Kurz is also based in New York.
AXA IM Alts was also active in the UK and across Europe this year. At the start of the week, the the company bought a logistics portfolio of around $510 million in the UK of a joint venture between Goldman Sachs and Canmoor. And the penultimate week, AXA IM Alts acquired a 740-bed residential portfolio in Madrid from funds managed by Blackstone in a deal valued at around $310 million.
Ackermann has been with AXA since 2006.