Axa Real Estate, the property arm of France’s insurance giant Axa, has named an internal candidate as head of opportunity funds.
Paris-based Axa said Laurent Vouin had become head of opportunistic funds, a title that will see him responsible for higher return products, including AXA Real Estate’s Development Venture III fund, which was launched in July this year and so far has equity commitments of €230 million.
Vouin will also be responsible for the company’s Real Estate Opportunity Funds I and II, the second of which is currently in its acquisition phase.
He joined Axa in 2002 and was previously head of asset management in France overseeing a €13 billion portfolio. Before that, he held senior development roles at US firm Tishman Speyer and French property company, Nexity. He is based in Paris and will report to Dennis Lopez, AXA Real Estate’s global chief investment officer.
Pierre Vaquier, chief executive officer, said in a statement: “Laurent’s appointment is key and timely as our opportunistic funds business expands to meet strong client demand for investments that take advantage of current market conditions.”
The real estate investment management firm is one of the largest in the world with €39.5 billion of assets under management.