London, 5 March 2019 - 2019 was another very dynamic year for Amundi Real Estate, which carried out a total transaction volume of €4.3 billion on behalf of its funds and mandates, bringing the cumulative amount of transactions over the last five years to €22 billion. At the same time, Amundi also raised more than €1 billion in the Eurozone senior real estate private debt market.
Amundi Real Estate activity review 2019
Amundi Real Estate pursued its strategy of investment in Core and Core+ assets and completed 24 acquisitions in 2019 for a total of €3.8 billion, with the portfolio made up of office buildings (68%), mixed assets (27%) and logistics (4%). As part of its actively managed portfolios, Amundi Real Estate also carried out several arbitrages in 2019 for a total of €476 million, mainly in France (€316 million) but also in Belgium, Finland, Spain and Portugal. At the end of December 2019, the portfolio managed by Amundi Real Estate funds comprised 750 buildings in a total of 10 countries, mainly in France (87%), Italy (5%), Germany (4%), Spain (1%) and the Netherlands (1%).
In terms of sales, Amundi Real Estate also achieved net inflows of €5.36 billion in 2019, including €1.76 billion in retail and €3.6 billion in institutional activities, confirming its position as a leading pan-European player. With €37.7 billion in assets under management, of which €17 billion in the retail segment, Amundi Real Estate once again confirmed its position as No. 1 in this segment in France. Indeed, Amundi Real Estate manages the largest retail OPCI (OPCIMMO with €8.4 billion) and 2 of the 3 largest SCPIs in this market (Edissimmo with €3.55 billion and Rivoli Avenir Patrimoine with €3.24 billion).
Rapid growth in private real estate debt
Launched in 2018, the Real Estate Private Debt business offers diversified exposure to the Eurozone senior real estate debt market by selectively investing in senior loans secured by underlying Core and Core+ quality real estate assets. This activity has grown rapidly since its inception, with more than €1 billion raised at the end of 2019. The Amundi Commercial Real Estate Loans fund (ACREL) totals €250 million with 90% already invested. Amundi was also awarded two institutional mandates for a total of €600 million. Finally, Nest, the largest UK pension fund, has selected Amundi following a competitive tender to deploy €500 million over 3 years in this asset class with a multi-strategy real estate debt approach in Europe, the United States and Asia.
A strengthened responsible investment approach
Pioneer in responsible investment, Amundi integrates ESG criteria in addition to financial analysis in the portfolio management for property and private debt assets. In addition to those already taken into account, such as water pollution, waste management, energy consumption, the well-being of occupants and transport, Amundi Real Estate introduced new criteria related to climate change (the carbon footprint of the building, its exposure and resilience to climate risks, etc.) in the analysis of the assets. Of the 750 buildings in its property portfolio, 414 buildings have already been mapped and more than half have been certified, with 12 new certifications obtained in 2019.
Pedro Antonio Arias, Director of Amundi Real and Alternative Assets comments: « Private real estate debt successfully capitalises on Amundi's historical expertise in real estate and private debt. More than €1 billion has been raised from investors, of which over 80% has already been invested. Amundi Real Estate, for its part, has strengthened its position at the European level with €37.7 billion in assets under management and significant inflows from both retail and institutional investors. In 2020, we will pursue our investment strategy with the primary objective of delivering sustainable performance to our investors. »
Amundi is the European largest asset manager by assets under management1 and ranks in the top 10 globally. It manages 1,653 billion euros of assets across six main investment hubs. Amundi offers its clients in Europe, Asia-Pacific, the Middle East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Clients also have access to a complete set of services and tools. Headquartered in Paris, Amundi was listed in November 2015.
Thanks to its unique research capabilities and the skills of close to 4,500 team members and market experts based in nearly 40 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.
Amundi. Confidence must be earned.
Visit www.amundi.com for more information or to find an Amundi office near you.
- Source IPE “Top 400 asset managers” published in June 2019 and based on AUM as of end December 2018
- Amundi figures as of December 31, 2019
- Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo