AXA Real Estate adds McCarthy, expands US strategy

As part of a new stateside plan, the real estate investment management arm of French insurance giant AXA has added Steve McCarthy as US head of asset management and transactions.

AXA Real Estate Investment Managers, the real estate investment management business of French insurer AXA, has added Steve McCarthy to its North American team. He joined the firm’s New York office yesterday in the newly created post of US head of asset management and transactions, as the firm moves to expand its influence stateside.

In his new role, McCarthy will be responsible for sourcing and executing acquisitions and disposals on behalf of AXA Real Estate’s US- and European-based funds and separate accounts. He also will present club and other transaction-based deals to institutional investors and oversee all aspects of asset management in the US.

Though the firm has had a New York presence since 2010, AXA Real Estate’s head of North America Olivier Thoral told PERE that McCarthy’s position is part of a new twofold US strategy, in which the firm plans to boost capital raising from American investors and increase its US investments in the office, retail and industrial sectors. “Now is the right time to add an acquisitions and asset manager to our team in order to have someone on the ground to properly service our investors,” he said. “Steve will help us towards achieving our goal by sourcing investment opportunities and managing them.” 

McCarthy joined AXA Real Estate from Atlanta-based real estate investment advisory firm MXA Capital, where he served as co-founder and principal. Prior to MXA, he was chief operating officer at Greenprint Foundation, a coalition of global real estate investors committed to reducing energy usage and carbon emissions. Additionally, McCarthy has held senior positions in the US at Buchanan Street Partners, WestWind Capital Partners and Jones Lang Wootton and in the UK at Tishman Speyer.

AXA Real Estate is one of the largest real estate portfolio and asset managers in Europe, with more than €46 billion in assets under management as of June. In addition to the New York office, the Paris-based firm has 12 additional locations throughout Europe and Asia. McCarthy’s appointment will expand the firm’s seven-person US team, which currently includes Thoral and head of sales and investor relations Elizabeth Behnke.