AXA Investment Managers - Real Assets agreed to acquire a $9.4 billion U.S. commercial mortgage loans portfolio from Quadrant Real Estate Advisors, the French money manager said in a statement Wednesday.
The deal, pending regulatory approval, is expected to close in 2019, a spokeswoman said. The value of the transaction was not disclosed.
The acquisition will bring AXA's loan portfolio to $20.5 billion, and its total debt platform including infrastructure finance to $28 billion. Quadrant's U.S. real estate debt team, comprising 24 members, will join AXA IM - Real Assets when the deal closes.
"The acquisition will also be a major milestone in our goal of creating one of the largest and truly global real assets investment and management firms. The transaction will also further strengthen our ability to fulfill clients' evolving and global requirements by taking a 360-degree approach to investing in real assets across different geographies and sectors, through opportunities in equity and debt, as well as via private or listed instruments," said Isabelle Scemama, CEO of AXA IM - Real Assets, in a news release.