AXA IM Alts, SGCH and NHFIC announce a strategic partnership to deliver affordable homes in Australia

Sun, 27 Nov 2022 20:45:14 +0000

Antoine Mesnage

AXA IM Alts, a global leader in alternative investments with c. €184 billion (c. A$285 billion) of assets under management^[1], has announced a significant commitment on behalf of clients to affordable rental housing, launching its new Australian Build-to-Rent (BTR) strategy.

In its first landmark project in Australia, AXA IM Alts will focus on affordable, and market built to rent housing at Westmead, in Western Sydney through a partnership with St George Community Housing (SGCH).

Establishing a long-term strategic partnership with leading community housing organisation SGCH, AXA IM Alts’ commitment is supplemented by funding from the National Housing Finance and Investment Corporation (NHFIC), as part of a total umbrella commitment of A$300 million from NHFIC, aimed to support the partnership in delivering multiple projects including the first project in Westmead of c. 350 mixed tenure social and affordable dwellings.

The Westmead project will be managed by SGCH and delivered by leading NSW developer and builder Deicorp. It is strategically located adjacent to the new Westmead Health and Innovation Precinct, one of the largest health, education, research and training precincts in Australia, and will significantly increase access to affordable housing for key workers in Western Sydney.

Upon completion in 2025, the property aims at offering best-in-class sustainability credentials, targeting to be operationally net zero and a 5-star Green Star rating, equivalent to the international BREEAM Excellent rating.

Antoine Mesnage, Head of Australia at AXA IM Alts, commenting on the new partnership: “Our commitment to the Westmead project, along with our strategic partnership with SGCH and NHFIC will allow us to bring forward much needed supply of high quality, sustainable and affordable new homes, while aligning with our broader ambition of investing with purpose to help improve society and quality of life. This transaction and the launch of AXA IM Alts Australia’s build to rent strategy allows us to extend our global residential conviction and leverage our track record in the sector to meet the long-term investment requirements of our investors.”

“Westmead is an area with one of the highest concentrations of key workers nationally and is set to benefit from the expansion of the surrounding health and innovation precinct over the coming decade. We recognise the need for quality key worker housing in major employment hubs across Sydney, and our first project in Westmead will offer a solution to these workers who are essential in supporting the needs of the community.”

Scott Langford, Group CEO of SGCH, added: “We are excited to be bringing together institutional capital with capability of major partners and the support of NHFIC to increase the supply of affordable and sustainable housing through regulated not for profit community housing. Thriving communities and vibrant economies depend on a diversity of people being able to live, learn, work, and play to create great places.

AXA IM Alts has a global track record investing in affordable housing – with over A$35 billion invested in the residential sector globally – and this has followed through into their commitment to partner at scale in Australia. We thank NHFIC for their catalytic role in mobilising this institutional investment that will create more affordable homes for rent.”

Nathan Dal Bon, CEO of NHFIC, said: “This is a ground-breaking agreement that clearly demonstrates how NHFIC can partner with the community housing sector and institutional investors to find innovative new ways to deliver much-needed affordable housing.”

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[1] Source: AXA IM Alts unaudited data as at end of June 2022

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AXA IM Alts makes senior Australian leadership appointments and appoints Antoine Mesnage as Head of Australia

Sun, 19 Jun 2022 21:45:00 +0000

Antoine Mesnage

AXA IM Alts, a global leader in alternative investments with c. €188 billion of assets under management^[1], has announced a number of senior internal appointments to its Australian leadership team, as it continues to drive growth in this priority global market.

Antoine Mesnage has been appointed as Head of Australia AXA IM Alts, effective from 1 October, replacing Kumar Kalyanakumar. The business also announces that Chris Willey and James Cox have been promoted to the respective positions of Head of Asset Management and ESG, and Head of Fund Management for AXA IM Alts in Australia, replacing Quentin Shaw who previously held the combined role of Head of Asset and Funds Management.

Since 2016, both Kumar Kalyanakumar and Quentin Shaw have been instrumental in successfully developing AXA IM Alts’ expertise in the Australian market and repositioning the Australian platform as a leader in the alternative real estate market. Both will depart the business on 30 September 2022 to allow for an orderly transition.

Antoine Mesnage, currently Head of Transactions for France at AXA IM Alts, will be relocating to Australia and brings over 16 years of real estate investment management expertise. In his current role, he has been responsible for many complex and high-profile investments, leading over €11 billion euros of transactions on behalf of AXA IM Alts clients across all strategies and sectors, including residential and forestry.

Chris Willey has over 27 years’ experience in the institutional fund management sector and is recognised as a leader in the local market on ESG integration into asset management. James Cox brings a wealth of expertise spanning a number of different roles within the real estate and fund management sector and has spent the past several years spearheading the AXA Group’s deployment of capital in the Australian market. Both Chris and James have over 15 years with the Australian business.

AXA IM Alts entered the Australian market in 2016 and has since grown into a highly active investment management platform in the region, with approximately €4.9 billion of equity and debt real assets under management^[3]. It has transacted a number of large strategic investments and developments in recent years across the core and alternative real estate sectors of office, hotels, healthcare, student housing and social infrastructure. Most recently it has acquired a 24,000 hectare forestry estate, in what was the largest investment into Australian forestry in over a decade^[4] along with the acquisition of a strategic stake in the Moorebank Logistics Precinct development in Sydney for a total of c. €1.06 billion (A$1.67 billion), alongside a consortium of investors. The business is also currently embarking on its multifamily residential strategy in Australia, leveraging off its strong track record and scale in the European market.

Laurent Jacquemin, Head of Asia Pacific at AXA IM Alts, commented: “The Australian business is integral to our sizeable growth ambitions for the APAC region. Antoine brings significant knowledge, skills and years of expertise from his time in Europe, and I look forward to working with him to spearhead the next phase of growth in the Australian market. As long standing senior members of the Australian business, and with a deep understanding of the local market, Chris and James will be instrumental in complementing Antoine in achieving our growth ambitions.”

“I would like to take this opportunity to recognise the passion and energy of Kumar in repositioning and transforming the business as the leading alternative real estate investment manager in Australia. I would also like to thank Quentin for his commitment to AXA IM Alts over the past 6 years and in steering the asset and funds management parts of the business in an excellent manner.”

Kumar Kalyanakumar commented: “After successfully leading the transition of the business from a boutique to be part of a global platform, the recent successes of the business has positioned it well to strengthen its reputation as a leader in real estate. I am looking forward to embarking on a new chapter and playing an influential role within the institutional real estate and infrastructure sector. Sustainable and responsible investment is a passion of mine and it will be central to long term performance as the world transitions to a low carbon economy.”

Quentin Shaw commented: “The strong culture and enduring relationships with our capital partners built over the last 18 years forms the bedrock of this immensely successful business. I am proud to have been part of this wonderful journey.”

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Notes:
[1] Source: AXA IM Alts unaudited data as of 31 March 2022
[2] Source: https://www.afr.com/property/commercial/axa-im-logs-into-biggest-forestry-deal-in-more-than-a-decade-20210725-p58cs8
[3] Source: AXA IM Alts unaudited data as of 31 March 2022
[4] Source: https://www.afr.com/property/commercial/axa-im-logs-into-biggest-forestry-deal-in-more-than-a-decade-20210725-p58cs8

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AXA IM Alts, SGCH and NHFIC announce a strategic partnership to deliver affordable homes in Australia

AXA IM Alts, a global leader in alternative investments with c. €184 billion (c. A$285 billion) of assets under management[1], has announced a significant commitment on behalf of clients to affordable rental housing, launching its new Australian Build-to-Rent (BTR) strategy.

[1] Source: AXA IM Alts unaudited data as at end of June 2022

AXA IM Alts makes senior Australian leadership appointments and appoints Antoine Mesnage as Head of Australia

AXA IM Alts, a global leader in alternative investments with c. €188 billion of assets under management[1], has announced a number of senior internal appointments to its Australian leadership team, as it continues to drive growth in this priority global market.

AXA IM Alts, a global leader in alternative investments with c. €184 billion (c. A$285 billion) of assets under management^[1], has announced a significant commitment on behalf of clients to affordable rental housing, launching its new Australian Build-to-Rent (BTR) strategy.

AXA IM Alts, a global leader in alternative investments with c. €188 billion of assets under management^[1], has announced a number of senior internal appointments to its Australian leadership team, as it continues to drive growth in this priority global market.