Axa IM makes entry into the Australian Healthcare Sector

The asset manager from the real assets branch of Axa Investment Managers (Axa IM) has invested in the healthcare sector in Australia through a joint venture with property firm Grosvenor Group and Centuria Heathley.

This investment is in two hospitals, namely, Mater Women’s & Children’s Hospital in Townsville and the Westside Private Hospital, a multi-tenanted private hospital in the inner-western suburbs of Brisbane. The portfolio is worth 500 million Australian dollars (€308.3 million). The fund manager said, “The attractiveness of the Australian healthcare sector is underpinned by demographic trends such as the country’s ageing population and longer life expectancy.”

Centuria Heathley Limited shall originate and manage delivery of assets and assist in driving asset management. Centuria Heathley currently manages Australian assets across the spectrum of healthcare segments including medical centers, day hospitals and tertiary aged care while having established strategic relationships with specialist healthcare operators.

Centuria Heathley retaining a minority stake in the Joint Venture. Kumar Kalyanakumar, Head of Australia, at AXA IM – Real Assets, said: “Our strategy is to continue to invest on behalf of clients in alternate real asset sectors in Australia. This is driven by our conviction on the long term fundamentals of the alternate sectors as well as our global and local experience which allows us to execute and drive value in these sectors.”