AXA IM Alts raises €1.9bn European Life Sciences Fund

The capital was raised over the last seven 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. Life Sciences is an emerging 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 capital raised will primarily be invested through Kadans Science Partner which AXA IM Alts completed the acquisition of in December last year. It 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.  Kadans is a fully integrated developer, owner and operator of European science parks and lab offices and is unique in its focus and scale within the European Life Sciences sector.

Its portfolio comprises c. 167,000 sqm of operating space across 22 assets in key research locations in the Netherlands, UK and Germany, as well as eight developments, which are due to deliver 120,000 sqm of new space over the next three years. 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.

Since acquisition, Kadans has already completed a number of acquisitions in the UK and the Netherlands, including Sherard Building in Oxford and Rotterdam Science Tower, while working on a pipeline of opportunities, including development projects.  Isabelle Scemama, Global Head of AXA IM Alts & CEO of AXA IM – Real Assets, commented: “Our investment into Kadans and the life sciences sector  dovetails with two of our broader investment themes. Firstly of putting capital to work in to opportunities which have strong ESG credentials and make a positive contribution to society and, secondly, of coupling long-term investment capital with operational platforms and highly ambitious management teams wishing to operate without the constraint of short term investment horizons.”                                                                                                                                                       FTI Kadans’ assets combine offices and incubator space alongside a range of specialist spaces including laboratories and cleanrooms and tech halls, as well as research and development facilities such as climate controlled environments and pilot plants. Kadans’ tenant base comprises a mix of, global corporate, SME and start-up businesses, as well as academic and government institutions in highly innovative growth sectors such as Life Sciences, Food, Health, Living Environment, Biotechnology, Bio based and High Tech Semiconductors.