November 7, 2018 / 7:37 AM / 7 days ago

AXA buys $9.4 billion U.S. real estate debt business from Quadrant

LONDON (Reuters) - AXA Investment Managers will acquire a U.S. debt investment team and a $9.4 billion portfolio of U.S. commercial mortgage loans from Quadrant Real Estate Advisors, AXA said on Wednesday.

AXA IM, owned by AXA Group (AXAF.PA), will hire 24 people from Quadrant including five of its founding partners, as part of a plan to expand its business in the United States.

“The acquisition of this market leading U.S. team together with the significant commercial real estate senior loan mandates, will enable us to expand the leadership of our real estate debt platform from a European to a global level,” said Isabelle Scemama, CEO of AXA IM - Real Assets.

Reporting By Lawrence White, editing by Silvia Aloisi

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