AXA preps close of oversubscribed life science real estate strategy

AXA Investment Managers has tracked significant interest in its new life science strategy that is said to be oversubscribed.

The AXA European Life Science Fund is raising €750 million ($896 million) for a minority stake in ELSS, which is a closed-end vehicle focused on the expansion of Kadans Science Partner, a leading developer, owner and operator of life science parks and campuses within Europe.

Kadans has an existing portfolio of operating and development stage life science assets across three countries. The fund is targeting a 10-14% net of fees IRR with portfolio leverage . . .

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