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French finance group splits asset management business in two

French company Axa, which recently purchased a Danish real estate portfolio worth EUR 173 million, is creating two new asset management businesses through the split, Bloomberg writes.

Axa Investment Managers, which has completed two Danish real estate purchases, is part of the AXA financial group. | Photo: Arnd Wiegmann / Ritzau Scanpix

French financial group Axa is dividing its business unit for asset management into two and creating a new, EUR 137 billion asset management division, Bloomberg reports.

Asset manager Axa Investment Managers (Axa IM), which is a part of Axa, has previously invested in Danish real estate, starting a year ago, when EjendomsWatch reported that the company had purchased 78 residential real estate units in Irmabyen in Rødovre, just outside Copenhagen, in a EUR 33 million (DKK 246 million) deal.

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