La Banque Postale AM raises €813m for real-asset funds
La Banque Postale Asset Management (LBPAM), a French fund management company, has announced it has raised €813 million (US$846 million) for real-asset funds.
LBPAM has achieved the second closing for its new infrastructure and real estate debt funds.
The funds, following its predecessors, will be focused on European senior debt in both primary and secondary markets, mainly in Western Europe. One fund will invest in social housing, transport, utilities and renewable energies, and the other fund will invest in real estate projects such as office, retail, residential and logistics.
Launched in April, LBPAM achieved the first closing of the funds, raising €413 and €400 million, respectively.
It is expected that a final close will take place early next year.
In addition, in MAy 2016 LBPAM and Fédéris Gestion d’Actifs (FGA) entirely merged, after an agreement reached early 2015 between both parties. Former FGA’s strategies were integrated to LBPAM’s fund range.
Created in 1988, as a fund management company acting on behalf of external clients, La Banque Postale Asset Management (LBPAM) is a subsidiary management company of La Banque Postale (70%), Aegon Asset Management (25%) and Malakoff Mederic (5%).
LBPAM is France's 5th largest asset management company with €179 billion (US$186 billion) assets under management.
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