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, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients – retail investors, institutional investors and companies – a complete range of savings and investment solutions in active and passive management, in traditional or real assets.
With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,700 employees in nearly 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages over €1.7 trillion in assets.