AXA IM Alts has raised €1.9 billion of equity to accelerate investments into the Life Sciences sector. The capital raised will primarily be invested through Kadans Science Partner, which will enable Kadans to execute new acquisition opportunities and continue to build out its existing development opportunities with a view to consolidating its market leading position in Europe.
The capital was raised over the last five months, with commitments to a significantly oversubscribed fund raise from a range of clients from North America, Asia and Europe. AXA IM Alts’ investments into the life science sector on behalf of clients are managed by its Real Assets platform, the leading real estate portfolio and asset manager in Europe. Half of the funds raised will be spent on developing new assets, with the Netherlands, UK, Germany and France likely targets. The other half will go to upgrading or repurposing existing Kadans assets.
Already well established in the U.S., Life Sciences is an emerging but high potential asset class in Europe which is supported by a number of economic, demographic and technological changes, notably as it relates to healthcare. The sector is benefitting from a significant growth in available public and private funding. Companies in the sector are not just demanding additional space to accommodate their growth but are fundamentally considering how they organise themselves and recognising the value of being part of a relevant ecosystem.
Since acquisition, Kadans has already completed a number of acquisitions in the UK and the Netherlands: The Sherard Building on Oxford Science Park, Brandon Road in King’s Cross London, Rotterdam Science Tower, Zernike Lab on Campus Groningen and Building BY on Novio Tech Campus, while working on a pipeline of opportunities, including various development projects.
The expansion of the Kadans platform, primarily through developing out its existing pipeline and acquiring new opportunities across Europe, is a strategic objective for AXA IM Alts.