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AXA Investment Managers Paris
AXA Investment Managers Paris manages over €700B for AXA Group and institutional clients.
AXA Investment Managers Paris
AXA Investment Managers was established in 1994 as the internal asset manager for AXA Group, a French multinational insurance firm founded in 1816. The firm has since expanded to manage over €700 billion in assets (per AXA IM website, 2025) for external clients including pension funds, sovereign wealth funds, and other institutions. Marco Morelli, former CEO of Mediobanca, has served as Executive Chairman since 2021, while Stefan Engels became CEO in 2024. The firm allocates across public and private markets, with notable concentrations in fixed income (€400B+), equities (€200B+), real estate (€50B+), infrastructure, private equity, and private credit. Its private markets arm, AXA IM Alts, manages over €200 billion and targets direct investments in real assets and private equity, with a global footprint spanning Europe, North America, and Asia. Confirmed portfolio investments include stakes in French renewable energy provider Voltalia and UK student housing portfolio IQ Student Accommodation (per Financial Times, 2022). AXA IM employs over 2,600 professionals across 20 offices worldwide, including key hubs in London, New York, Hong Kong, and Tokyo. The firm also operates AXA IM Prime, a separate division focused on private equity fund-of-funds and direct co-investments, and AXA IM Core for mainstream fixed income and equity strategies. In March 2025, the firm appointed new heads of global client coverage to deepen relationships with institutional allocators in Asia and the Middle East (per Bloomberg, March 2025). AXA IM's structural differentiator is its dual role as both internal manager of AXA Group's general account and external asset manager for third parties. This creates a stable base of assets under management tied to insurance liabilities while enabling the firm to pursue third-party mandates without conflicts of interest. The firm operates under French and European regulation, with strict separation of proprietary and client capital.
General information
Firm type
Asset Manager
Year founded
1994
AUM
Undisclosed
Location
Region
Europe
Country
France
City
Paris
Corporate office
Paris, France
Principals
Marco Morelli
Executive Chairman
Stefan Engels
Chief Executive Officer
Sector focus
Frequently asked questions
How does AXA Investment Managers generate proprietary deal flow in private markets?
AXA IM Alts sources direct investments through its global network of 20 offices and relationships with AXA Group's insurance operations, which provide access to real estate, infrastructure, and private credit opportunities. The team also leverages relationships with investment banks and advisors for co-investments alongside other institutional investors (per AXA IM website).
Is AXA IM structured as a single-family office or an institutional asset manager?
AXA IM is an institutional asset manager owned by AXA Group, a publicly traded insurance company. It operates as a regulated asset management firm, managing insurance-linked assets for AXA Group's general account alongside external mandates from pension funds, sovereign wealth funds, and other institutions.
What investment stages does AXA IM target in private equity?
AXA IM Alts targets direct investments across the capital structure, including private equity buyouts, growth equity, and infrastructure equity. It also runs a fund-of-funds platform, AXA IM Prime, providing exposure to top-tier private equity funds globally, with a focus on mid-market buyouts in Europe and North America (per industry reports).
Does AXA IM participate in co-investments alongside external general partners?
Yes, AXA IM Alts actively co-invests with external GPs in private equity, infrastructure, and real estate. The firm has co-invested in deals such as the acquisition of IQ Student Accommodation alongside a consortium of institutional investors (per Financial Times, 2022).
How is AXA IM affiliated with AXA Group?
AXA IM is a wholly owned subsidiary of AXA Group, the French insurance giant with over €700 billion in assets under management. AXA Group provides a stable source of capital from its insurance liabilities, enabling long-term investing. The two entities maintain separate legal and regulatory structures to manage conflicts of interest in third-party mandates.
Which sectors does AXA IM explicitly avoid?
AXA IM has publicly stated it excludes investments in controversial weapons, tobacco, and thermal coal mining from its sustainable investing framework. The firm integrates environmental, social, and governance criteria across its investment processes (per AXA IM website, 2025).
Does AXA IM maintain separate philanthropic or foundation structures?
AXA Group operates the AXA Research Fund, a corporate foundation supporting academic research on climate change, health, and social sciences. AXA IM itself does not run a separate philanthropic arm but participates in group-level sustainability initiatives.
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