Axa PE raises €1.75bn for infrastructure fund

A quarter of Axa PE's new infrastructure fund has already been spent on four transactions, including the acquisition of Poweo's operational French wind farms from Verbund and a stake in utility company Enovos from ArcelorMittal.

The GP expects to find opportunities in corporate disposal programmes of non-strategic assets, as well as in the continued sales of regulated assets such as gas and electricity grids, it said in a statement. Axa PE will also focus on other types of assets coming to market, like road and rail, both through government and corporate asset sales.

AXA Infrastructure Fund III attracted commitments from previous and new investors stemming from the North American, Asian and European markets. These range from large pension funds to direct investors.

Axa PE's infrastructure team has made 18 investments across Europe in the past seven years and has €3bn of assets under management. The group mainly targets assets in the energy and transportation sectors and employs a strategy of long-term investment, real returns and regular yields.

Axa PE is a global investor with assets of $31bn managed or advised across Europe, North America and Asia.

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• Topics
• Infrastructure
• Axa Private Equity