AXA Investment Managers has paired up with Sirius Real Estate in a joint venture called Titanium. The deal should Sirius wants to double the volume of assets it manages in Germany over the next two years from its current holdings of €1bn. AXA has €730bn in AUM globally. Since its February launch, Titanium has acquired €230m in new properties.
Sirius CEO Andrew Coombs says he expects the company to produce 6% income growth this year, which would mark it the fourth year in a row it achieved at least 5% growth. “They are still demonstrating that they can effectively recycle mature assets and deploy the capital to achieve enhanced returns,” said Chris Segar, a portfolio manager at Ivy Asset Management told the South African publication Business Day. “I like the acquisitions that they made in Freiburg and Hamburg recently; these are great nodes for them. However, I would like to get more information about Titanium, to better understand how it will work in practice,” he added.
