AXA IM arm raises $2.5 bln to invest in bank risk transfer trades

LONDON, July 10 (Reuters) – AXA IM Alts, the alternative investment arm of French insurer AXA (AXAF.PA), opens new tab, has raised $2.5 billion to pursue deals in the fast-growing market for bank risk transfers, as more lenders look to cash in on rising investor interest in their loan books.

A total of 46 investors have provided the firepower, which comprises $1.3 billion in capital raised for its Partner Capital Solutions 9 Fund, and a further $1.2 billion from parallel separate managed accounts, including mandates from large Danish pension funds and the Arizona State Retirement System.