LONDON-The Caesar Fund, the Italian-regulated subsidiary of AXA Real Estate Investment Managers, has just closed with a €420-million ($573-million) war chest. According to a statement, this “exceeds the ambitious target equity” when the fund launched with a first close of €118 million in March of last year.
Caesar's primary focus is going to be well-leased core office assets. The bulk of the last raise came from 13 Italian institutional investors.
For the first year, the fund will focus it's investment strategy on the UK, France and Germany, keeping the maximum investment in any single asset to no more than 15% of the portfolio value.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
